The CEOs of These Four Companies Bought Shares Without Fearing Trump Presidency

CEO of Technology Solutions Provider Buys Shares

The man in charge of Black Box Corporation (NASDAQ:BBOX) also bought some shares in the past several trading sessions, a bad move considering that Trump has just won the election. President and CEO Eslie C. Sykes snatched up 18,600 shares on Monday and 2,400 shares on Friday at prices varying from $11.95 to $12.50 per share. Mr. Sykes owns an aggregate of 94,390 shares following the recent purchases.

Although the shares of the technology solutions provider are 33% in the green this year, the CEO’s recent purchase suggests the stock has more room to run. Black Box Corporation (NASDAQ:BBOX)’s revenues for the second quarter of fiscal 2017 that ended October 1 were $218.75 million, down 8% year-over-year. The company’s product revenue decreased by 5% yearn-on-year to $42.26 million, reflecting lower volumes of large orders in North America, a change in sales leadership, and lower demand for legacy data networking products. Algert Coldiron Investors upped the position in Black Box Corporation (NASDAQ:BBOX) by 13% during the third quarter to 160,187 shares.

Cluster of Insider Selling at the World’s Largest Custody Bank

Lastly, let’s have a look at a cluster of insider selling observed at Bank of New York Mellon Corp (NYSE:BK). Vice Chairman Brian T. Shea discarded 74,362 shares on Friday at prices that fell in the range of $42.90 and $43.01 per share. Mr. Shea currently holds an ownership stake of 267,894 shares after the recent sale. More importantly, Chairman and CEO Gerald L. Hassell liquidated two blocks of 20,000 shares each on the last day of October at a weighted average price of $34.35 per share. The blocks were held in separate family trusts, each one of which owns 22,140 shares after the not-so-distant sales. Mr. Hassell also holds a direct ownership stake of 1.00 million shares.

Fresh market rumors suggest that the world’s largest custody bank could be seeking to grow its investment management arm through acquisitions, with analysts saying that BNY Mellon could benefit from an exchange-traded fund provider. Some analysts argue that Bank of New York Mellon Corp (NYSE:BK) may expand its presence in the ETF market, arguing that there is no shortage of potential takeover targets amid an accelerated consolidation in the U.S. asset management industry. The world’s largest assets custodian has seen its market cap rise by 6% since the beginning of the year. Ken Fisher’s Fisher Asset Management has around 10,000 shares of Bank of New York Mellon Corp (NYSE:BK) in its portfolio as of the end of the September quarter.

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