Paul Gilbert, the chief legal officer at LifePoint Hospitals since early 2008, this week became the latest local insider to book some big profits when he exercised 40,000 stock options and then sold more than 54,000 of his shares. The moves — which came after LifePoint (Ticker: LPNT) climbed more than 10 percent in a month — produced a profit of almost $1.7 million for Gilbert, who moved to LifePoint from Waller in 2006.
HCA Holdings Director Wayne Riley last week cut his stake in more than half by selling 10,000 shares of the hospital giant. The former president of Meharry Medical College pocketed $520,000 on the sales. Shares of HCA (Ticker: HCA) closed Wednesday trading at $52.68 and are up about 10 percent year to date.
At fellow hospital operator LifePoint, Chief Administrative Officer John Bumpus last Wednesday exercised two sets of options that would have expired in early 2015 and 2016 and then sold the resulting 20,000 shares. His profit on the transactions was just short of $390,000. LifePoint shares (Ticker: LPNT) also are up about 10 percent so far this year.
SEE ALSO: Other insider trades since the beginning of the year
The tide of share selling among local public-company executives has ebbed a bit, but there have still been a few noteworthy transactions in the past week and change at companies where leaders have been active of late. At shoe and hat retailer Genesco, Senior Vice President Jonathan Caplan took in more than $900,000 from the sale of more than a sixth of his stock while fellow SVP Mimi Vaughn pocketed about $245,000 by selling more than 3,000 of her more than 48,000 shares.
Over at Acadia Healthcare, former COO and Eastern Division President Karen Prince unloaded all but 100 of her remaining shares for about $250,000. Prince left Franklin-based Acadia in the spring of 2012.
SEE ALSO: Other recent insider trades of note
Various Genesco insiders continue to trim their positions in the shoe and hat retailer as its stock trades at near-record highs. Marty Dickens, the former AT&T Tennessee president and a Genesco director since 2003, last Tuesday sold about a fifth of his Genesco shares for $285,000 and General Counsel Roger Sisson booked a profit of almost $770,000 on the exercise of more than 15,000 stock options and the sale of the resulting shares. Those transactions came a couple of days after CFO Jim Gulmi shed about a tenth of his stake in Nashville-based Genesco for almost $1.2 million. Gulmi's sale in turn came just a few days after he unloaded more than $300,000 worth of Genesco stock, which is up (Ticker: GCO) about 7 percent so far this year.
SEE ALSO: Other recent insider trades
Genesco's leading executives continued to trim their stakes in the company this week. On Tuesday and Wednesday, Chairman, President and CEO Bob Dennis sold $1.1 million worth of shares — a week after booking $2 million in profit on an options exercise — in a deal that still leaves him with about $16 million of Genesco stock. On the same days, CFO Jim Gulmi sold about 3 percent of his shares for roughly $320,000. Shares of Genesco (Ticker: GCO) are up slightly so far in 2014.
On a smaller scale, Clarcor director Philip Lochner on Wednesday exercised 7,500 stock options that would have expired in three years and then sold the resulting shares. His profit on the transactions was almost $190,000. Clarcor shares (Ticker: CLC) are down about 12 percent year to date.
These transactions were the latest in a series of noteworthy insider trades by local executives over the past few months. By our rough count, those deals have generated gains of about $35 million.
Steve Barbarick, executive vice president of merchandising at Tractor Supply, ended last week with a flourish when a stock trading plan he set up in February sold 9,200 of his shares in the farm and ranch retailer. Barbarick grossed more than $678,000 from the sale. Directly and indirectly, he still owns more than $2.2 million worth of Tractor Supply shares, which have fallen about 7 percent (Ticker: TSCO) so far in 2014.
SEE ALSO: Other notable recent insider trades
Jim Estepa, the head of Genesco Retail Group, last week trimmed his holdings in the retailer where he has worked for 29 years. The 62-year-old Estepa sold almost 15,000 Genesco shares for more than $1.1 million two days after his boss booked a profit of almost $2 million on the exercising of some options. Genesco shares (Ticker: GCO) rose almost 4 percent last week and crossed $80 for the first time ever.
It's time to add a few more names to the list of local public-company executives who have been taking profits in the past month. Most notable among the latest batch of trades is Genesco Chairman, President and CEO Bob Dennis, who on Monday exercised 40,000 options that would have expired this fall and then sold the resulting shares. His profit on the transactions was just short of $2 million.
Meanwhile, at Acadia Healthcare, CFO David Duckworth followed the lead of some of his colleagues by selling 7,500 shares late last week, trimming his holdings in the Franklin-based company to about 30,000 shares. His gain on the sales was almost $345,000.
And lastly, Corrections Corp. of America Chief Development Officer Anthony Grande exercised 15,000 options that would have expired in 2017 and 2018 and then sold the resulting shares. The take-home on those deals was $155,000.
By our count, the total profits booked by local execs on significant insider trades since the beginning of this year now stands at $13 million.
A trio of Acadia Healthcare insiders and one of Delek US Holdings' top executives last week joined other local insiders in booking some profits from their holdings.
Making the biggest move at Acadia Healthcare was director and Executive Vice Chairman Bruce Shear, who over the course of Wednesday, Thursday and Friday sold about 38,000 shares, grossing more than $1.7 million. COO Ron Fincher, meanwhile, unloaded almost 7,800 of his shares for more than $360,000. Fincher, who helped build Psychiatric Solutions before stepping into Acadia with CEO Joey Jacobs and a handful of other executives three years ago, still owns more than 123,000 Acadia shares. And finally, director William Grieco sold 5,000 shares over two days — he still owns more than 36,000 — and pocketed more than $230,000.
The Acadia insiders' sales come at the end of a month in which the shares (Ticker: ACHC) slid about 10 percent to about $46. But the 14 analysts following the Franklin-based company foresee them climbing back into the mid-$50s in the coming quarters.
Up Interstate 65 a few miles at Delek, CFO Assi Ginzburg trimmed his holdings in the oil refining and marketing company by almost a third on Friday. Ginzburg added $955,000 to his bank account balance after selling 31,000 shares of Delek, which has rebounded a bit of late (Ticker: DK) after sliding from $34 to below $27 in the first nine weeks of 2014.
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