Insiders at Money-Losing Genetic Testing Company, Large U.S. Power Company, and Transforming REIT Are Buying Shares, Plus Some Noteworthy Insider Selling

Executive at Well-Known Drugstore Chain Discards Massive Block of Shares

A member of Walgreens Boots Alliance Inc. (NASDAQ:WBA)’s senior management team offloaded almost his entire holding at the end of the previous week. Ken Murthy, Executive Vice President of WBA and Chief Commercial Officer and President of Global Brands, discarded 102,172 shares on Friday at prices that fell in the range of $82.72 to $83.45 per share. After this sizeable sale, Mr. Murthy currently owns a mere 653 shares.

One should note, however, that the insider sale mentioned above comes a few weeks after the Chief Executive Officer of the drugstore chain, Stefano Pessina, snapped up 2 million shares at a price of $81.41 per share. The largest retail pharmacy, health and daily living destination across the United States and Europe has seen the value of its shares drop by 1% year-to-date. Walgreens Boots Alliance Inc. (NASDAQ:WBA)’s acquisition of the third-largest drugstore chain in the U.S., Rite Aid Corporation (NYSE:RAD), is expected to close in early 2017 amid delays in selling stores to receive regulatory approval. The $9.4 billion merger was originally expected to close in the second-half of this year. Michael Lowenstein’s Kensico Capital reported ownership of 3.40 million shares of Walgreens Boots Alliance Inc. (NASDAQ:WBA) in its 13F filing for the third quarter.

Former CEO of Provider of Housekeeping and Laundry Management Services Sells Shares

One of the most well-informed insiders at Healthcare Services Group Inc. (NASDAQ:HCSG) also offloaded a great deal of shares recently. Daniel P. McCartney, the Chairman of the Board and former CEO of Healthcare Services Group, liquidated 100,000 shares on Tuesday at $38.47 apiece. After the recent sale, Mr. McCartney currently owns a stake of 2.06 million shares.

The shares of the largest provider of housekeeping and laundry management services to the long-term care industry in the United States are 11% in the green year-to-date. The company renders such services to more than 3,500 facilities across 48 states. Healthcare Services Group Inc. (NASDAQ:HCSG) reported consolidated revenues of $392.73 million for the third quarter, an increase of 9.0% year-over-year. The increase mainly reflects revenue growth of 5.2% in the company’s housekeeping reportable segment due to service agreements entered into with new clients, as well as a spike of 15.7% in revenue from the company’s second reportable segment (i.e. dietary) that resulted from providing this service to a greater number of existing “Housekeeping” clients. Royce & Associates, founded by Chuck Royce, had around 325,000 shares of Healthcare Services Group Inc. (NASDAQ:HCSG) in its portfolio at the end of September.

Disclosure: None