EVINE Live Inc. (EVLV) Registers Massive Cluster of Insider Buying; Nimble Storage Inc. (NMBL) and Operator of FYE Chain Also Witness Noteworthy Purchases

Trans World Entertainment Corporation (NASDAQ:TWMC) also witnessed some insider buying this week. Chairman Robert J. Higgins, founder of the FYE music/video chain who stepped down as Chief Executive Officer in 2014, purchased an aggregate of 65,000 shares during the first three trading sessions of this week at a weighted average price of $3.71, boosting his ownership to 14.27 million shares. Mr. Higgins also holds an indirect ownership stake of 137,500 units of common stock, held by the Higgins Foundation.

Trans World Entertainment Corporation is a specialty retailer of entertainment products such as video, music, electronics, video games and other related products. The company operates 299 retail entertainment stores, primarily under the names f.y.e. for your entertainment and Suncoast Motion Pictures. The company’s total sales for fiscal 2015 that ended January 30 were $334.66 million, which decreased from $358.49 million reported for the prior fiscal year. Nonetheless, the company’s comparable store sales decreased by only 0.7% year-on-year. Net income for fiscal 2015 reached $2.69 million, or $0.09 per diluted share, up from $1.78 million, or $0.06 per diluted share, reported for the previous year. The specialty retailer has seen its shares advance 3% since the beginning of 2016. There were only four hedge funds tracked by Insider Monkey with stakes in the company at the end of 2015, accumulating almost 10% of its outstanding common stock. Jim Simons’ Renaissance Technologies reported owning 593,200 shares of Trans World Entertainment Corporation (NASDAQ:TWMC) through the 13F for the December quarter.

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