Massive Insider Selling at Apple Inc. (AAPL) & LHC Group Inc. (LHCG), Plus 3 Companies with Notable Insider Buying

iPhone Maker Sees Influential Executive Unload a Massive Block of Shares

It has been a long time since Insider Monkey last saw spur-of-the-moment insider selling at Apple Inc. (NASDAQ:AAPL), where most insider sales are usually conducted using freshly-exercised stock options or under pre-arranged trading plans. D. Bruce Sewell, Senior Vice President of Legal and Global Security, General Counsel and Secretary, discarded a massive block of 103,300 shares on Monday at prices that ranged from $96.55 to $96.95 per share. After the recent sale, Mr. Sewell continues to hold 239,432 shares of Apple.

The Financial Times recently reported that one of the iPhone maker’s executives raised the prospect of the Cupertino-based company buying Time Warner Inc. (NYSE:TWX) at a meeting with the owner of CNN. Apple Inc. (NASDAQ:AAPL) seeks to enter the media industry and several trustworthy news outlets are mulling over whether Apple may be interested in buying video streaming provider Netflix Inc. (NASDAQ:NFLX). While Apple is not known as a pronounced M&A player, as its biggest acquisition was the $3.1 billion purchase of Beats Electronics in 2014, the company does have enough cash on its balance sheet to buy almost anything it desires. Apple shares are 4% in the red year-to-date. Warren Buffett’s Berkshire Hathaway acquired a new stake of 9.81 million shares of Apple Inc. (NASDAQ:AAPL) during the March quarter.

This Provider of Post-Acute Health Care Services Has Co-Founder Offload Shares

LHC Group Inc. (NASDAQ:LHCG) has seen its Co-Founder, Chairman and Chief Executive Officer unload shares this week. Keith G. Myers sold 21,000 shares on Monday, 75,000 shares on Tuesday and 30,000 shares on Wednesday at prices that fell between $41.00 and $42.94 per share, trimming his direct ownership stake to 195,881 shares. Mr. Myers also holds an indirect ownership stake of 1.12 million shares held via K&G Family LLC, of which he is a manager.

The shares of the provider of post-acute health care services have lost 9% of their value since the beginning of the year. LHC Group Inc. (NASDAQ:LHCG) had 367 service providers in 25 states at the end of the March quarter. The company’s net service revenue for the quarter increased to $222.55 million from $193.08 million reported a year prior. The number of hedge funds in our system with stakes in the company climbed to 18 from 15 during the first quarter. Israel Englander’s Millennium Management owns 217,425 shares of LHC Group Inc. (NASDAQ:LHCG) as of the end of March.

Disclosure: None