Newly-Appointed CFO of This Armored-Car Company Initiates New Position
Brink’s Company (NYSE:BCO) also registered some insider buying this past week, a kind of insider buying some investors are inclined to ignore. Ronald J. Domanico, who joined Brink’s as Chief Financial Officer earlier this month, snapped up a new stake of 16,744 shares on Thursday at a price tag of $29.86 each in a private transaction with the company at a price equal to the closing price of the company’s stock on that day. Mr. Domanico was also awarded 4,714 restricted stock units on the same day. Although this insider buying falls into the “must do” category, it still represents a positive sign for investors.
The fresh insider buying comes a month after a new CEO took the helm of the armored-car company. Newly-appointed CEO Douglas Pertz replaced George Stoeckert, who served as interim CEO after former CEO Thomas C. Schevelbein stepped down as part of a settlement agreement with Jeffrey Smith’s Starboard Value LP in January. Under the terms of the agreement, the provider of transportation and logistics management services offered the activist hedge fund three seats on its boardroom. Starboard Value LP had 4.58 million shares of Brink’s Company (NYSE:BCO) in its portfolio on March 31.
Specialty Retailer of Fragrances Registers Insider Buying
Perfumania Holdings Inc. (NASDAQ:PERF) had not witnessed any insiders buy shares for a few years until last week. Long-serving Vice President and Chief Financial Officer, Donna L. Dellomo, snatched up a new stake of 2,000 shares on Friday at a cost of $2.41 per share. Although the size of this purchase is not overly significant, the timing of the purchase may represent an attractive entry point for investors.
The vertically integrated specialty retailer and distributor of fragrances and related beauty products has seen the value of its stock plunge by 57% over the past 12 months. Perfumania Holdings Inc. (NASDAQ:PERF)’s net sales for the three months that ended April 30 were $105.14 million, down 18% compared to the first quarter of fiscal 2015. Perfumania’s comparable store sales dropped 14.5% year-over-year due to lower mall traffic. Meanwhile, the company’s net loss widened to $6.41 million from a net loss of $0.17 million recorded a year ago. Ken Griffin’s Citadel Advisors LLC acquired a new stake of 12,473 shares of Perfumania Holdings Inc. (NASDAQ:PERF) during the March quarter.
The final page of this article discloses the insider trading activity recorded at two companies last week.