Massive Clusters of Insider Buying at Synalloy (SYNL) and Providence Service (PRSC), Plus Insider Transactions at 3 Other Companies

Three Insiders at Healthcare-Focused Holding Company Purchase Shares

Three members of Providence Service Corporation (NASDAQ:PRSC)’s executive team purchased shares last week. To start with, Chief Executive Officer James M. Lindstrom snatched up 2,500 shares on Friday at a price tag of $46.61 each, enlarging his ownership to 26,153 shares. Moreover, David Casey Shackelton, Chief Financial Officer and Senior Vice President, bought 2,000 shares on the same day at prices varying from $46.80 to $46.90 per share. After the recent purchase, Mr. Shackelton currently owns 13,319 shares. Matthey K. Umscheid, Senior Vice President of Strategic Services, acquired a smaller block of 500 shares on Friday for $47.00 each, lifting his stake to 1,250 shares.

The holding company that owns and manages various operating subsidiaries, comprised of providers of critical healthcare and workforce development services, has seen the value of its shares increase by nearly 2% since the start of the year. At the end of August, healthcare-focused private equity firm Frazier Healthcare Partners agreed to acquire a 60% equity interest in health-assessment provider Matrix Medical Network, a subsidiary of Providence Service Corporation (NASDAQ:PRSC). The deal values Matrix at around $537.5 million. Jim Simons’ Renaissance Technologies reported ownership of 915,300 shares of Providence Service Corporation (NASDAQ:PRSC) in its 13F filing for the June quarter.

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Board Member at Troubled National Retailer Buys Some Shares

One member of Sears Hometown and Outlet Stores Inc. (NASDAQ:SHOS)’s Board of Directors also purchased some shares earlier this week. Board member William K. Phelan acquired 4,200 shares on Tuesday at prices that fell between $5.97 and $6.00 per share. Following the recent transaction, Mr. Phelan currently owns 11,200 shares.

Sears Holdings Corp (NASDAQ:SHLD) spun-off Sears Hometown and Outlet Stores Inc. (NASDAQ:SHOS) in October 2012, but the latter company’s comparable-store sales have been on a downtrend for three years, as customers associate Sears Hometown and Outlet with store closures and the poor shopping experience at the former parent company’s Sears stores. The national retailer focused on selling home appliances, hardware, tools, and lawn and garden equipment has seen its market cap plunge by 32% since the start of 2016. The company, along with its dealers and franchisees, operated 1,123 stores across all 50 states, plus Puerto Rico and Bermuda at the end of July, after 22 stores were closed in the second quarter. Francis Chou’s Chou Associates Management had 1.32 million shares of Sears Hometown and Outlet Stores Inc. (NASDAQ:SHOS) among its holdings at the end of the April-to-June period.

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The final page of the article will discuss the fresh insider selling registered at two other companies.