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

Executive at Growing Matrix Service Offloads Shares

One member of Matrix Service Co (NASDAQ:MTRX)’s executive team also unloaded a large block of shares this week. Bradley J. Rinehart, President of Matrix PDM Engineering, discarded 25,300 shares on Tuesday at a weighted average price of $22.59 per share. Following the recent sale, Mr. Rinehart currently owns an aggregate of 51,235 shares.

Matrix Service Co (NASDAQ:MTRX), which offers engineering, fabrication, construction, and repair and maintenance services to several markets including the oil and gas industries, has seen the value of its stock gain 11% so far in 2016. In mid-December, the company’s engineering division, Matrix PDM Engineering Inc. – of which Mr.  Rinehart is the President, acquired privately-held Houston Interests LLC, a global solutions company that provides consulting, engineering, design, construction services and systems integration. The number of hedge funds from our database with equity stakes in Matrix Service increased to 15 from 11 during the third quarter. Royce & Associates, founded by Chuck Royce, owned 2.25 million shares of Matrix Service Co (NASDAQ:MTRX) at the end of the September quarter.

Chairman of Provider of Engineering and Enterprise IT Services Sells Shares Near 52-Week High

The most influential member of Science Applications International Corp (NYSE:SAIC)’s boardroom sold some shares earlier this week. Edward Sanderson Jr., Chairman of the company’s Board, liquidated 3,600 shares on Thursday at prices ranging from $83.95 to $84.85 per share. Mr. Sanderson currently owns an aggregate of 17,080 shares following the recent sale.

The shares of the provider of technical, engineering and enterprise information technology services primarily to the U.S. government are trading near their 52-week high of $89.25, after having gained an impressive 86% year-to-date. This surge in the company’s share price does commend some diversification on the part of insiders, so the sale discussed above should not worry potential investors and shareholders. Just recently, Science Applications International Corp (NYSE:SAIC)’s Board approved a regular quarterly cash dividend of $0.31 per share, which equates to an annual dividend yield of 1.45%. Cliff Asness’ AQR Capital Management was the equity holder of around 226,000 shares of Science Applications International Corp (NYSE:SAIC) at the end of September.

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