The Chief Executive Officers of These Four Companies Buy Shares, Plus Insider Selling at Sanmina Corp (SANM)

High Ranking Insiders at Shopping Center Owner and Operator Buy Shares Amid Accounting Scandal

Two insiders at Brixmor Property Group Inc. (NYSE:BRX), including the man at the helm of the company, increased their holdings over the past several days. President and CEO James M. Taylor Jr. bought 10,000 shares on Monday at prices in the range of $23.80 to $23.84 per share, a purchase that lifted his overall ownership to 213,590 shares. John G. Schreiber, the Chairman of the company’s Board of Directors, disclosed the purchase of a 10,000-share stake that is held by Centaur Partner IV LP. The purchase occurred on Friday at a price tag of $23.70 each. Mr. Schreiber also holds a direct ownership stake of 5,000 shares.

The shares of the internally-managed REIT that owns and operates the second largest open air retail portfolio in the United States, comprised predominantly of community and neighborhood shopping centers, are down 7% this year. In early February, Brixmor Property Group Inc. (NYSE:BRX) announced that its Board had concluded that accounting and financial reporting personnel had been “smoothing income items” between reporting periods to show consistent growth in same-property net operating income. As a result, federal prosecutors opened an investigation on the shopping center owner’s accounting woes in late October. Jim Simons’ Renaissance Technologies LLC was the owner of 3.14 million shares of Brixmor Property Group Inc. (NYSE:BRX) at the end of September.

CEO of High-Flying Sanmina Discards Shares

Let’s now turn our attention to some fresh insider selling observed at Sanmina Corp (NASDAQ:SANM), where the man in charge of the company offloaded a great deal of shares last week. Chairman and CEO Jura Sola liquidated 57,892 shares on Thursday and 13,524 shares on Friday at prices that fell between $31.30 to $31.75 per share. Mr. Sola currently holds a direct ownership stake of 419,484 shares following the transactions discussed above.

The global provider of integrated manufacturing solutions, components, products and repair, logistics and after-market services has seen its market capitalization jump by 54% since the start of the year. The hefty increase in the company’s share price does explain the recent spike in insider selling at Sanmina Corp (NASDAQ:SANM), so investors should not be overly concerned about the sales mentioned earlier. Earlier this month, the company reported revenue of $6.48 billion for fiscal year that ended October 1, up from $6.37 billion recorded for the previous fiscal year. As for the first quarter of fiscal 2017 ending December 31, Sanmina anticipates revenue in the range of $1.675 billion-to-$1.725 billion. Cliff Asness’ AQR Capital Management added a 721,543-share stake in Sanmina Corp (NASDAQ:SANM) to its portfolio during the third quarter.

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