Hertz Global Holdings Inc. (HTZ) Registers Eye-Catching Insider Buying, Massive Insider Sale at Best Buy Co Inc. (BBY), Plus Three Other Companies with Notable Insider Trading Activity

Media Tech Company Has Board Member Buy Shares

One of Avid Technology Inc. (NASDAQ:AVID)’s Board members, Paula E. Boggs, purchased a new stake of 16,500 shares on Thursday at prices varying from $6.08 to $6.21 per share. The newly-acquired stake is held through Boggs LLC, of which Ms. Boggs is the majority owner. The Board member also holds a direct ownership stake of 27,183 shares.

The shares of the developer of software and hardware for digital media content publication, management and distribution are down 66% in the past year. Avid Technology Inc. (NASDAQ:AVID)’s shares seem to be trading cheaply at the moment if considering the stock’s forward PE multiple of only 4.6, which is below the forward PE ratio of 16.2 for the information technology (IT) sector. The company’s top-line figure for the first three months of the year was $143.55 million, up from $119.59 million posted a year ago. Avid Technology also posted net income of $20.93 million, versus a net loss of $0.17 million recorded in the same period of the prior year. Jeffrey Bronchick’s Cove Street Capital owns 2.31 million shares of Avid Technology Inc. (NASDAQ:AVID) as of March 31.

This Property and Casualty Insurer Sees CEO Buy Shares

Hallmark Financial Services Inc. (NASDAQ:HALL)’s top executive resumed the buying spree after a break of nearly two years. Chief Executive Officer and President Naveen Anand snapped up 10,300 shares on Thursday at $9.84 apiece, lifting his overall holding to 60,300 shares.

The diversified specialty property and casualty insurer has seen its shares go down by nearly 18% since the start of the year. Hallmark Financial Services Inc. (NASDAQ:HALL)’s financial performance has been partially impacted by sustained deterioration in the non-standard automobile business, which generally insures new or young drivers, drivers with credit problems, drivers with multiple losses or moving violations, among others. As a result of the aforementioned issue and other issues, the company has been raising rates across most of its customer categories. Jim Simons’ Renaissance Technologies LLC reported owning 158,400 shares of Hallmark Financial Services Inc. (NASDAQ:HALL) in its latest 13F.