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

With the US elections over, the markets around the world plunged being “stunned” by the victory of Donald Trump, who defied all odds. Nevertheless, the US stock futures managed to pare losses. Despite the uncertainty surrounding the Trump presidency and the disappointment felt by many, the life moves on.

Having said that, let’s focus on the main purpose of this article, which is to discuss fresh noteworthy insider transactions reported with the SEC. Though the prospects do not look so bright at the moment, investors would still be wise to pay close attention to insider buying. After all, there appears to be only one reason corporate insiders use their hard-earned money to purchase shares. And that reason stems from insiders’ desire to make money on those purchases. Without further ado, let’s discuss some fresh insider buying and selling reported with the SEC on Tuesday.

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Cluster of Insider Buying at Telecommunication Company After Earnings Release

Three different insiders at Liberty Global plc (NASDAQ:LBTYA) purchased shares earlier this week. To start with, Board member J. David Wargo bought 25,297 Class C shares on Tuesday at prices that fell between $19.86 and $20.42 per share. Mr. Wargo reported the purchase of an additional 1,000 Class C shares, which are owned by his spouse. Following the recent purchase, the Board member currently owns a direct ownership stake of 38,288 Class C shares. Paul A. Gould, another member of the company’s boardroom, snapped up 30,000 Class A shares on the same day at prices varying from $20.15 to $20.30 per share. Mr. Gould currently owns an aggregate of 67,021 Class A shares following the purchase. More importantly, President and CEO Michael T. Fries snatched up 50,000 Class A shares on Tuesday at prices ranging from $19.98 to $20.34 per share, lifting his ownership of Class A shares to 144,713 units. Mr. Fries also bought 1,100 Class B shares on the same day for $22.27 each, a purchase that increased his holding of Class B shares to 34,432 units.

The shares of the international provider of video, broadband internet, fixed-line telephony, mobile and other communications services are down 21% this year. The insider buying comes shortly after the telecommunications company reported a loss of $249.5 million for the third quarter, which was driven by more than $436 million in losses on derivatives. This compares with a year-earlier bottom-line of $133.3 million. Liberty Global plc (NASDAQ:LBTYA)’s revenue jumped by 13% year-over-year to $5.21 billion, beating analysts’ expectations. Bernard Selz’s Selz Capital LLC added a new stake of 50,000 Class A shares in Liberty Global plc (NASDAQ:LBTYA) to its portfolio of holdings during the September quarter.

The next two pages of this article will discuss more insider buying and selling recently witnessed at other companies.

CEO and COO at Hotel REIT Increase Their Holdings

There were two executives at Chatham Lodging Trust (NYSE:CLDT) who bought shares this week. President and CEO Jeffrey H. Fisher purchased 25,000 shares on Monday at prices that ranged from $17.21 to $17.55 per share. After the purchase, Mr. Fisher currently holds 701,747 shares in his account. Dennis M. Crave, Executive Vice President and Chief Operating Officer, disclosed Tuesday the purchase of 2,000 shares at a price tag of $17.23 each, a purchase that lifted his holding to 81,051 shares.

The self-advised hotel investment company has seen the value of its shares plunge by 14% since the start of the year. Chatham Lodging Trust (NYSE:CLDT)’s strategy involves investing in upscale extended-stay and premium-branded select-service hotels. The REIT’s total revenue for the third quarter was $79.73 million, up from $78.33 million posted in the same period of the previous year. The acquisition of three hotels in the third quarter of 2015 contributed with $3.52 million to the company’s top-line figure, while revenue at the REIT’s 35 comparable hotels decreased by $2.12 million year-over-year. For the 35 comparable hotels owned by Chatham Lodging Trust, room revenue decreased by $1.76 million year-over-year due to a decline of 4.1% in occupancy and a decrease of 2.5% in revenue-per-available room. Alan Reid’s Forward Management reported owning 1.93 million shares of Chatham Lodging Trust (NYSE:CLDT) in the 13F filing for the third quarter.

Insider Buying at Struggling Laser-Based Micro-Manufacturing Solutions Supplier

Two insiders at Electro Scientific Industries Inc. (NASDAQ:ESIO) also snapped up some shares last week. To start with, President and CEO Michael D. Burger bought 84,000 shares on Friday at a price of $4.71 per share, boosting his ownership stake to 313,445 shares. Board member Raymond A. Link added 2,000 shares to his holding on Thursday at a cost of $4.60 per share. Mr. Link currently owns an aggregate of 57,000 shares.

The mini-cluster of insider buying discussed above comes after the supplier of innovative laser-based micro-manufacturing solutions for industries that rely on microtechnologies released disappointing results for its fiscal 2017 second quarter that ended October 1. Electro Scientific Industries Inc. (NASDAQ:ESIO)’s revenue for the quarter came in at $29.7 million, down from $47.7 million reported for the first quarter of 2017 and $46.5 million in the second quarter of the previous fiscal year. The decrease reflects “short-term overcapacity” in its core business, which impacted revenues, earnings, and cash flow. The shares of the company have plunged by 4% this year. Algert Coldiron Investors, founded by Peter Algert and Kevin Coldiron, added a 230,096-share stake in Electro Scientific Industries Inc. (NASDAQ:ESIO) to their portfolio during the third quarter.

The final page of this article will discuss fresh insider trading observed at two other companies.

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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