It appears Dollar General CEO Todd Vasos looked at the stock purchases made early this month by two of the retailer's directors and thought they were a good idea. Last Thursday, Vasos spent more than $300,000 to add 4,300 shares to his holdings, which are now worth $4.2 million. Dollar General (Ticker: DG) closed Monday at about $69 and have slid from more than $80 in the past month.
Corrections Corp. of America board member Thurgood Marshall Jr. last Friday unloaded more than 23,000 shares of the Nashville-based prison management company. The sales grossed Marshall, who has been a CCA director since 2002, more than $684,000 and slashed his stake in the company by more than half. Shares of CCA (Ticker: CXW) are down almost 20 percent so far this year.
Dollar General's board members appear to be a bunch of true believers. A couple of days after AutoZone CEO Bill Rhodes spent about $370,000 to pad his stake in Dollar General following the stock's slip in the wake of the company's Q2 earnings, fellow director Michael Calbert followed suit — and then some. Calbert, a former KKR executive who joined Dollar General's board when the investment firm bought the company (Ticker: DG) in 2007, early this week spent more than $2.7 million to more than triple his stake in Goodlettsville-based Dollar General. Check out his filing here.
Just about all of our reports on noteworthy stock trades by local public-company insiders have them booking juicy profits. But every once in a while, we get to draw attention to an investment that signals a big vote of confidence. So it is here with Bill Rhodes, the CEO of AutoZone and a director of Dollar General: A trust set up by Rhodes, who has been on the Dollar General board since 2009, last week spent $370,000 to buy 5,000 shares of the discount retailer, growing his total (direct and indirect) holdings to more than 27,000 shares. The move came after Dollar General (Ticker: DG) slipped from above $80 to the mid-$70s amid broader market trumoil and in the wake of its Q2 profit report.
Corrections Corp. of America Chief Development Officer Anthony Grande has joined the ranks of local executives posting big insider sales. The 45-year-old executive, who has been with Nashville-based CCA since 2003, this week twice unloaded 10,000 shares for more than $650,000. The moves trimmed Grande's CCA holdings by about 18 percent.
POSTDATA: WARRANTY DEEDS