High-Ranked Executive at Struggling Specialty Retailer New York & Company Inc. (NWY) Buys Shares; Plus Other Insider Trading

Executive at Business Process Services Company Sells Some Shares

One member of SYNNEX Corporation (NYSE:SNX)’s management team offloaded some shares last week. Peter Larocque, President of U.S. Distribution at the company, sold 3,868 shares on Friday at prices varying from $125.31 to $125.75 per share. Mr. Larocque currently owns an aggregate of 10,435 shares after the sale.

The shares of the business process services company have jumped by 54% in the past year, which explains the sale mentioned above and some additional insider selling discussed by Insider Monkey in early October. SYNNEX Corporation (NYSE:SNX)’s revenue for the fiscal year that ended November 30 increased to $14.06 billion from $13.34 billion recorded for the prior fiscal year. The company’s boardroom recently declared a quarterly cash dividend of $0.25 per share, which equates to a current dividend yield of 0.82%. The number of asset managers from our system invested in SYNNEX rose to 17 from 13 during the third quarter. George Hall’s Clinton Group added an almost 50,000-share stake in SYNNEX Corporation (NYSE:SNX) to its equity portfolio during the third quarter.

Expected Spike in Insider Selling at Convenience Store Operator

The insider selling activity at CST Brands Inc. (NYSE:CST) was quite intense in the last months of 2016 and insiders keep selling in 2017. Charles H. Adams, President of Retail Operations at the company, liquidated 7,000 shares last Monday at a weighted average price of $48.20 per share, cutting his ownership to 4,775 shares.

In late August, the independent retailer of motor fuels and convenience merchandise agreed to be acquired by Quebec-based convenience store operator Alimentation Couche-Tard for $4.4 billion. Hence, the insider sale discussed above should not represent a reason for concern. In fact, numerous players in the hedge fund industry have also been trimming their positions in CST Brands Inc. (NYSE:CST) after the acquisition announcement. The number of asset managers tracked by Insider Monkey with long positions in the convenience store retailer decreased to 24 from 31 during the three months that ended September. Havens Advisors, founded by Nancy Havens-Hasty, reported owning 78,000 shares of CST Brands Inc. (NYSE:CST) in its 13F filing for the fourth quarter.

Disclosure: None