Longtime HealthStream director Tom Dent last week cashed in on some stock options that would have expired in May. Dent, who co-founded PhyCor way back when and now leads three-state clinic operator Urgent Team, exercised 10,000 options at an average price of $3.12 and then sold almost 14,000 shares for more than $25 each. His proceeds from the transactions came to more than $320,000. At about 1:20 p.m. Monday, shares of HealthStream (Ticker: HSTM) were changing hands around $25, down 1.6 percent on the day. So far this year, they're off 15 percent.
A handful of executives at some of Middle Tennessee's most prominent public companies saw last week as a good time to book some profits on their stock holdings. Here's a rundown:
As part of a trading plan, HCA Holdings Controller Don Stinnett exercised almost 10,500 options that would have expired in early 2017 for about $5 each and then sold the same number of shares for $76. His profit on the transactions came to more than $740,000. HCA shares (Ticker: HCA) are essentially flat for the year.
Over at Community Health Systems, Chief Administrative Officer Kevin Hammons exercised 8,000 options that would have expired this summer, then sold that number of shares. On top of that, he also sold more than 10,600 other shares. His total proceeds on the deals topped $600,000. In addition, Division President Michael Portacci sold about a quarter of his stock in the Franklin-based company. His bank account is now almost $750,000 to the good. Fellow Division President Bill Hussey grossed $454,000 from a similar sale. He still owns almost $6 million of CHS shares (Ticker: CYH), which are down about 6 percent year to date.
Cracker Barrel Old Country Store's marketing chief Chris Ciavarra also was a seller, unloading a quarter of his stake in the restaurant and retail company for more than $670,000. The sale comes after Cracker Barrel (Ticker: CBRL) popped to an all-time high in the wake of strong earnings. Year to date, the stock is up 5 percent.
AmSurg Senior Vice President of Finance and Chief Accounting Officer Kevin Eastridge took advantage of the 13 percent year-to-date run up in the company's shares to cash in almost a fifth of his shares in the company. Eastridge, who has been with Nashville-based AmSurg since 1997, grossed more than $540,000 on the sale. AmSurg (Ticker: AMSG) is changing hands at a record high and is now worth almost $3 billion.
At behavioral health care provider Acadia Healthcare, VP of Finance Robert Swinson on Monday sold off about 7 percent of his holdings for almost $400,000. Acadia shares (Ticker: ACHC) have climbed about 7 percent year to date.
The leaders of Acadia Healthcare last week embarked on some post-earnings selling to the tune of more than $6.6 million. CEO Joey Jacobs led the way, selling about 29,000 shares for more than $1.8 million. He still directly and indirectly owns nearly $60 million worth of Acadia shares. COO Ron Fincher sold some 10,700 shares, about 9 percent of his holdings, for almost $670,000 and CFO David Duckworth unloaded almost a third of shares for about $600,000. General Counsel Chris Howard sold roughly $590,000 of his holdings; he still owns more than 200,000 shares.
Acadia shares (Ticker: ACHC) had run to $64 from $57 in the days leading up to the company's Q4 report. They closed last Friday at $63.79.
Newly installed Kirkland's CEO Mike Madden last week exercised more than 10,000 options that would have expired early next month — and didn't sell the resulting shares, even though it would have generated a profit of about $140,000. Kirkland's shares (Ticker: KIRK) are down almost 2 percent to $25 and change Wednesday morning but have climbed almost 40 percent over the past three months. Analysts see them rising to $28 in the coming year.
Brookdale Senior Living director Mark Schulte took care of some stock option business the day after Christmas, selling 10,000 of his shares for total proceeds of more than $360,000. Schulte still owns $7.7 million worth of Brookdale shares, which have climbed 35 percent (Ticker: BKD) in 2014.
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.
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