Valeant Pharmaceuticals Intl Inc. (VRX)’s New CEO Buys Massive Block of Shares, Plus Four Other Companies with Noteworthy Insider Activity

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This Bank’s Board Member Bought Shares Last Week

Eric D. Hovde, a member of Bay Bancorp Inc. (NASDAQ:BYBK)’s Board of Directors, bought 50,000 shares on Thursday for $5.15 each, boosting his direct ownership stake to 58,854 shares. Prior to the aforementioned acquisition, Mr. Hovde also acquired 200 shares last Tuesday at $5.05 apiece and 2,400 shares last Monday for $5.02 each. The Board member also holds an indirect ownership stake of 2.78 million shares held through private bank holding company H-Bancorp LLC, of which Mr. Hovde is the Chairman and CEO.

The Maryland-based savings and loan holding company, the parent company of Bay Bank, has seen its market capitalization gain nearly 4% since the beginning of the year. Bay Bancorp Inc. (NASDAQ:BYBK) had total assets of $463 million at the end of March, as compared to $491 million at the end of December and $487 million at the end of March of 2015.

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This REIT Had One Executive Sell Shares Last Week

Roger A. Maynard, Executive Vice President of Investments at Equity Lifestyle Properties Inc. (NYSE:ELS), sold 15,000 shares on Thursday at prices that fell between $71.55 and $72.21 per share. After the recent sale, Mr. Maynard continues to own 155,379 shares.

The real estate investment trust that owns and operates manufactured home communities and recreational vehicle resorts and campgrounds has seen its shares gain 9% since the start of 2016. The REIT owned or had an ownership interest in a portfolio of 388 properties across the United States and Canada, which contained 144,231 individual developed areas referred to as sites. Equity Lifestyle Properties Inc. (NYSE:ELS)’s gross investment in real estate increased by $23.0 million during the first three months of 2016 to $4.50 billion, mainly due to increased capital expenditures and the acquisition of Rose Bay RV Resort, which translated into an additional 303 sites. The REIT currently makes a quarterly distribution of $0.425, which equates to an annual dividend yield of 2.33%. Jim Simons’ Renaissance Technologies had 1.03 million shares of Equity Lifestyle Properties Inc. (NYSE:ELS) among its holdings on March 31.

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Operator of Outpatient Physical Clinics Registers Insider Selling After a Pause of Several Years

U.S. Physical Therapy Inc. (NYSE:USPH) registered mild insider selling last week after a period of more than six years without any insider selling. Chief Financial Officer Lawrance W. McAfee offloaded 2,000 shares on Friday at prices varying from $59.25 to $59.40 per share, cutting his ownership to 39,212 shares. The stake includes 34,717 restricted shares granted under the company’s equity plan.

U.S. Physical Therapy Inc. (NYSE:USPH) operates outpatient physical therapy clinics that provide preventive and post-operative care, with the number of operated clinics totaling 512 at the end of March. The company’s share price has appreciated 9% so far in 2016. The company’s net revenues for the first three months of 2016 rose to $86.9 million from $77.2 million due to an increase in visits, partially offset by a decrease in the average net patient revenue per visit. Meanwhile, U.S. Physical Therapy’s bottom line for the first quarter was $5.3 million, up from $4.2 million reported for the first quarter of 2015. Royce & Associates, founded by Chuck Royce, nearly halved its stake in U.S. Physical Therapy Inc. (NYSE:USPH) during the March quarter to 312,025 shares.

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Disclosure: None

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