The pace of insider selling at Middle Tennessee companies has slowed some of late, but there were a few deals last week worth passing along. The biggest among them was from Delek US Holdings CFO Assi Ginzburg, who sold about 40 percent of his holdings in the Brentwood-based company for about $900,000. Delek shares (Ticker: DK) have climbed about 15 percent since the beginning of August but are flat for all of 2014.
Also selling was Scott Croft, president of Noranda Aluminum's downstream division: He took down his holdings in the aluminum maker by about a sixth, booking proceeds of $107,000. Noranda shares (Ticker: NOR) have gained 22 percent in the past month and 55 percent year to date.
And on the (rare) flip side, Tractor Supply Senior VP Alex Stanton last week added to his direct stock holdings by exercising 5,000 options but keeping the resulting shares for now. Stanton, who joined Tractor Supply in the spring of 2006, spent more than $303,000. Tractor Supply shares (Ticker: TSCO) are down slightly over the past three months but off more than 20 percent year to date.
Genesco CFO Jim Gulmi has in the past week sold 10,000 of his shares in the shoe and hat retailer, trimming his stake to about 127,000 shares. Like his boss Bob Dennis a few days before, Gulmi grossed about $800,000 from his sales. Genesco shares (Ticker: GCO) are down slightly this morning to $77.55 and up about 6 percent so far this year.
Genesco Chairman, President and CEO Bob Dennis last week trimmed his stake in the apparel retailer by 10,000 shares, about 5 percent of his holdings. The sales generated almost $800,000 for Dennis, who earlier this year booked profits of more than $3 million on some other transactions.
The pace of stock sales among local insiders shows little sign of slowing down soon. David Miller, who was named Community Health Systems' first COO earlier this year, this week exercised 100,000 stock options that would have expired next July and then sold 100,000 shares at market prices. His gains on the deal — which was consummated shortly after Miller's CEO, Wayne Smith, made a similar move — topped $1.2 million.
At Acadia Healthcare, board member William Grieco has lately been trimming his stake in the Franklin-based behavioral health care company. Last week, he sold 7,000 shares for more than $350,000. This week, he unloaded roughly 4,500 more, banking almost $230,000.
Pinnacle Financial Partners Chairman Rob McCabe this week sold almost 10 percent of his shares in the downtown-based bank holding company for about $1.7 million. McCabe, who helped launch Pinnacle in 2000, also exercised a batch of options that would have expired in January for about $470,000 and said he is holding on to those. He still owns more than $16 million worth of Pinnacle stock.
Separately, Pinnacle CAO Hugh Queener on Tuesday sold about $110,000 worth of shares.
SEE ALSO: Other notable recent insider trades from execs at Brookdale and the area's largest hospital companies
Community Health Systems Chairman and CEO Wayne Smith on Monday exercised 100,000 stock options that would have expired in February. He then sold most of the resulting shares, booking a profit of about $609,000 in the process. Smith directly and indirectly still holds more than $76 million of CHS shares, which have climbed more than 30 percent (Ticker: CYH) so far this year.
Brookdale Senior Living President and CFO Mark Ohlendorf last week cut his stake in the Brentwood-based senior living facilities company by a third, padding his bank account by $6.8 million. The series of sales came three weeks after Brookdale (Ticker: BKD) completed its acquisition of Emeritus and a week after former Emeritus boss Granger Cobb wrapped up the sale of $17 million worth of stock.
Also selling (again) last week was Director Mark Schulte, who has trimmed his Brookdale holdings by a third in recent weeks. Schulte's latest sales — view the details here and here — netted him about $2.7 million.
Sam Hazen, president of operations at HCA Holdings, on Monday joined a number of his executive peers in cashing in on the gains posted of late by the hospital giant's shares (Ticker: HCA). The veteran HCA officer — he's been with the company since 1994 — exercised more than 19,000 stock options and then sold the resulting shares. His profit on the transactions topped $1.2 million, lifting to almost $23 million the gains banked by HCA execs over the past week. We're thinking there's more to come on this front.
July was a very good month for HCA Holdings investors, with shares of the industry-leading hospital operator climbing more than 16 percent as the company and its peers reported surprisingly good earnings. So it's no surprise to see insiders cashing in a good number of their long-term compensation chips. The latest to do so were HCA Holdings Group President Jon Foster and President of Clinical Services and Chief Medical Officer Jonathan Perlin.
Foster on Friday exercised about 60,000 options that would have expired in 2017 and then sold the resulting shares. His profit on the deals came to more than $3.6 million. Perlin, meanwhile, booked a gain of $1.2 million after he exercised 20,000 options and sold the resulting stock.
The sales by Perlin and Foster came on the heels of similar big transactions by a number of their HCA colleagues as well as the CFO of LifePoint Hospitals. Since last Friday, HCA shares (Ticker: HCA) have traded sideways, closing Tuesday at $66.80.
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