Long-Serving Board Member at Top-Performing Chipmaker Sells Shares Ahead of Short-Seller Attack, Cluster of Buying at Spirits Company Priced Under $1, and Other Insider Trading

Cluster of Insider Buying at Spirits Company That’s on Track to Become Profitable

Castle Brands Inc. (NYSEMKT:ROX) has been consistently featuring our insider trading articles throughout the course of 2016 and insiders keep buying shares. To start with, President and Chief Executive Officer Richard J. Lampen bought 50,000 shares on Tuesday and 40,000 shares on Wednesday at prices varying from $0.70 to $0.74 per share. Mr. Lampen currently owns an aggregate of 1.85 million shares after the recent purchases. Board member Mark Zeitchick snapped up 30,000 shares on Tuesday for $0.72 each, all of which are held by MZ Trading LLC – of which Mr. Zeitchick is the sole managing member. Mr. Zeitchick currently owns a total of 80,000 shares through the entity mentioned above. Board member Richard M. Krasno also purchased 30,000 shares on Tuesday at prices ranging from $0.72 to $0.73 per share, lifting his overall holding to 50,000 shares.

The shares of the developer and marketer of premium and super-premium branded spirits are 36% in the red thus far in 2016. Castle Brands Inc. (NYSEMKT:ROX)’s net sales for the six months ended September 30 were $36.6 million, up 3.8% year-over-year. The increase mainly reflects U.S. sales growth of Jefferson’s bourbons and Goslings Stormy Ginger Beer, partly offset by drops in vodka and rum sales. The company is on track to become profitable, as its net loss for the six months that ended September improved to $1.5 million from $2.1 million recorded a year ago. Mark Broach’s Manatuck Hill Partners added a 400,000-share stake in Castle Brands Inc. (NYSEMKT:ROX) to its portfolio during the third quarter.

Follow Castle Brands Inc (NYSEMKT:ROX)

Long-Serving Board Member at Top-Performing Chipmaker Sells Shares Ahead of Short-Seller Attack

One member of NVIDIA Corporation (NASDAQ:NVDA)’s Board of Directors offloaded a sizeable block of shares this week. Tench Coxe, who joined NVIDIA’s boardroom in 1993, sold 50,000 shares on Tuesday in multiple transactions ranging from $116.61 to $116.79 per share. The shares were held by a trust that currently owns an aggregate of 1.29 million shares. Mr. Coxe also holds a direct ownership stake of 6,213 shares.

Shares of NVIDIA Corporation (NASDAQ:NVDA) have soared by 238% so far in 2016, with the chipmaker representing the top-performing stock in the S&P 500 by a wide margin in 2016. This likely explains Mr. Coxe’s decision to offload some shares. Coincidentally, the insider sale discussed above comes shortly before renowned short-seller Andrew Left and his firm Citron Research tweeted a warning that NVIDIA’s stock would “head back to $90” in 2017. Citron Research sent a tweet with a text attachment that listed six weaknesses of the well-known digital-graphics specialist that shareholders are discounting. One of the weaknesses or risks was the argument that much of the company’s growth has been derived from gaming and at the expense of industry rival Advanced Micro Devices Inc. (NASDAQ:AMD), “as opposed to new total addressable markets.” Jim Simons’ Renaissance Technologies LLC had around 3.20 million shares of NVIDIA Corporation (NASDAQ:NVDA) in its equity portfolio at the end of September.

Follow Nvidia Corp (NASDAQ:NVDA)

The final page of this article discusses fresh insider selling witnessed at two other companies.