Noteworthy Insider Transactions at CrossAmerica Partners LP (CAPL), Extreme Networks Inc. (EXTR), and Cumulus Media Inc. (CMLS)

Let’s now move on to Extreme Networks Inc. (NASDAQ:EXTR), where President and Chief Executive Officer, Ed Meyercord, has purchased 60,000 shares at $2.82 apiece to put his stake to 635,086 shares. Although the stock is down nearly 21% year-to-date, the recent uptrend that the stock has embarked on bear some surety for its current and potential investors. Just recently, Extreme Networks, a software and services-led networking solutions company, has joined the VMware NSX partner ecosystem, which will eventually allow its customers and resellers to manage and control their software-defined data centers more efficiently. Soros Fund Management, founded by reputable investor George Soros, is among the largest shareholders of Extreme Networks Inc. (NASDAQ:EXTR) within our database, holding a 3.11 million shares as of the end of June.

Last but not least, we will take a closer look at Cumulus Media Inc. (NASDAQ:CMLS), which saw its Executive Vice President John W. Dickey having sold 35,000 Class A shares at a price of $1.44 per unit, trimming his sizable stake to 2.02 million shares. It’s also worth noting that the EVP has been gradually discarding his stake over the last few months. The stock of Cumulus has been under pressure and has lost almost 67% year-to-date. Therefore, the recent insider sales do not suggest a strong future outlook for the company. Cumulus Media, a company that owns and operates radio stations in the United States, has announced its financial results for the second quarter, posting a revenue of $299.33 million, down by 8.8% year-over-year and earnings per share (EPS) of $0.05, compared to $0.06 reported in the same quarter a year ago. Among the smart money, James Dondero’s Highland Capital Management upped its stake in Cumulus Media Inc. (NASDAQ:CMLS) during the second quarter to 5.73 million shares.

Disclosure: None