Sonic Corporation (SONC) and PHI Inc. (PHII) Register Some Insider Buying, Plus Three Other Companies with Insider Selling

Avista Corp (NYSE:AVA) Had Two Different Insiders Offload Shares This Past Week

To start with, Senior Vice President Karen S. Feltes discarded 25,000 shares on Friday at a sale price of $40 per share, cutting her overall holding to 20,522 shares. Furthermore, Board member Erik J. Anderson sold 5,047 shares on the same day for $40.05 each, which trimmed his ownership to 20,995 shares.

The electric and natural gas utility has seen its market capitalization gain 13% since the beginning of 2016. Avista Corp (NYSE:AVA) posted net income of $56.1 million for the first three months of 2016, up from $46.4 million recorded a year ago. The increase in the company’s bottom-line figure was driven by an increase in gross margin due to general rate increases and colder weather during the quarter as compared to the same period of the prior year. Ken Fisher’s Fisher Asset Management reported owning 751,222 shares of Avista Corp (NYSE:AVA) through the latest round of 13Fs.

Increased Insider Selling at Patrick Industries in the Past Several Weeks and Months

Patrick Industries Inc. (NASDAQ:PATK) has also witnessed noteworthy insider selling in the past few weeks and months, so let’s focus on the most recent activity. Jeffrey M. Rodino, Chief Operating Officer and Executive Vice President of Sales, offloaded 2,500 shares on Wednesday and 7,500 shares on the following day at prices ranging from $53.00 to $53.05 per share, reducing his ownership to 61,647 shares. President Andy L. Nemeth sold 20,000 shares last week at $53.00 apiece, after which he currently owns 72,010 shares.

The shares of the manufacturer of building products and materials to the manufactured housing (MH) and recreational vehicle (RV) industries in the U.S. have advanced 22% since the start of 2016. The impressive performance of Patrick Industries Inc. (NASDAQ:PATK)’s shares reflects sustained growth in the RV market, as well as a strong growth rate in wholesale industry shipments in the MH market. Jeffrey Gendell’s Tontine Asset Management has 1.30 million shares of Patrick Industries Inc. (NASDAQ:PATK) among its holdings.

Disclosure: None