Community Health Systems Chairman and CEO Wayne Smith has checked in with one of the bigger Middle Tennessee insider trades in a few months. Late last week, Smith exercised 500,000 stock options — at $40 and change — that were granted to him in 2008 and would have expired next summer. He then turned around and sold 437,000 shares for more than $51 each, booking a profit of almost $2.3 million.
Other CHS insiders also have been active in the company's stock in recent days. Here's a quick rundown:
• Director Mitchell Watson sold 3,000 of his 11,419 shares for proceeds of $155,000 and change.
• Division President Bill Hussey booked a profit of $146,000 on options that would have expired in February.
• Director John Clerico exercised 5,000 options at about $28 each.
A trio of prominent local executives late last week gave themselves a little more cash for Christmas shopping by selling some of their shares. Leading the way was Genesco Chairman, President and CEO Bob Dennis, who on Friday pocketed more than $720,000 from the sale of 10,000 shares of the retailer. Dennis, who still owns more than $12 million worth of Genesco, sold the shares a week after the company reported disappointing Q3 numbers that took the stock (Ticker: GCO) down more than 10 percent.
Tony Crudele, the CFO of ranch and farm products retailer Tractor Supply, exercised more than 11,000 options that would have expired in 2020 and 2021 before selling the same number of shares of market prices. His profit on the transactions — executed under the umbrella of a stock trading plan — came to almost $650,000. Tractor Supply (Ticker: TSCO) are up about 30 percent over the past three months.
Jeff Wagner, executive vice president of oriented strand board at Louisiana-Pacific Corp., sold more than a quarter of his shares for almost $550,000. Wagner still owns about $1.4 million worth of LP, which has risen 10 percent (Ticker: LPX) since September.
That shares of Corrections Corp. of America (Ticker: CXW) are up almost 10 percent since mid-October apparently hasn't escaped Chief Corrections Officer Harley Lappin. The former director of the Federal Bureau of Prisons, who joined CCA in 2011, on Monday exercised almost 34,000 options that would have expired in mid-2021 and then sold the same number of shares. Lappin's profit on the transactions came to almost $620,000.
Ryman Hospitality Properties board member E.K. Gaylord II early this week sold about 12 percent of his stake in the real estate investment trust, grossing almost $950,000. The 57-year-old Gaylord, who was the company's interim CEO and chairman around the turn of the century when it was known as Gaylord Entertainment, has been a director of the business since 1977.
SEE ALSO: Other recent notable insider trades
Two insider at Corrections Corp. of America last week took some profits selling some of the prison management company's shares, which are up almost 10 percent (Ticker: CXW) since mid-October. General Counsel and Secretary Steve Groom exercised 20,000 options that would have expired in 2020 and 2021 at about $20 each and then sold the same number of shares for about $36 each. His profit on the transactions came to almost $350,000. Director Thurgood Marshall Jr., meanwhile, sold more than a quarter of his shares in the Nashville-based company, grossing more than $440,000.
Tractor Supply director George MacKenzie late last week took advantage of the farm and ranch gear retailer's recent post-earnings runup. On Friday, he exercised two batches of options that would have expired in 2017 and 2018. He then sold the same number of shares at $74.45 each. His profit on the transactions came to almost $ 1.4 million. MacKenzie, who has been a Tractor Supply board member since 2007, still owns almost $1 million worth of the company's stock (Ticker: TSCO), which is up 20 percent over the past three months.
Two senior executives at farm and ranch goods retailer Tractor Supply have booked a combined profit of $3 million shortly after the company's shares popped on the back of a strong third-quarter report. CFO Tony Crudele exercised almost 24,800 options that would have expired in 2020 and then sold that many shares. His gain on those transactions topped $1.5 million. Similarly, Alex Stanton, the company's senior vice president of supply chain, exercised about 24,550 options, sold that number of shares and booked a profit of more than $1.4 million.
The sales by Crudele and Stanton come about a week after Tractor Supply merchandising leader Steve Barbarick made similar moves. Shares of Tractor Supply (Ticker: TSCO) are up almost 30 percent over the past month and are within a few dollars of their all-time highs.
Corrections Corp. of America board member John Correnti last week sold more than half of his shares in the company after they had run up to a 52-week high (Ticker: CXW) on the back of better-than-expected third-quarter numbers. Correnti, who has been a CCA director since late 2000, booked gains of almost $1.1 million and still owns about $740,000 worth of company stock.
Tractor Supply merchandising chief Steve Barbarick has in the past week lightened his stock and option holdings in the Brentwood-based retailer. Last week, he sold 4,000 shares for $280,000 under a trading plan he set up in March. Then on Monday, he exercised 10,000 options that would have expired in 2017 and 2018 and sold the resulting shares. His profit on those transactions topped $610,000. Tractor Supply shares (Ticker: TSCO) got a nice bump last week from the company's better-than-expected Q3 results but they're still down slightly year to date.
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