Tuesday, September 26, 2017 10:15 PM ET
Insider Sales at Patrick Industries (PATK) are Significant and Extend the Selling Trend of Last Quarter
Two insiders — Andy L Nemeth, Director and Officer, and Todd M Cleveland, Director and Officer — sold 27,500 shares of Patrick Industries having a market value of approximately $2,201,450, today, as disclosed in form 4 documents filed with the SEC. There have been 5 insiders with buy/sell transactions in the past 90 days prior to these filings. These trades have resulted in the purchase of 42 company shares and the sale of 26,020 company shares over this time period. Adding the most recent activity to this 90-day history indicates insider trades have been net sales of 53,478 shares and have averaged 7,652 shares per transaction over this time period.
Patrick Industries insider trading represents a higher number of buy/sell trades than for the 4 peer company average over the last 90-day period. The Doors & Window Frames peer group saw 10 buy/sell trades during this period for an average of 2.5 transactions per company. The number of shares per buy/sell trade for Patrick Industries insiders was also higher. Within the peer group there were 1,542 shares purchased and 43,236 shares sold with company insiders disposing of 4,169 shares on average.
In determining significant insider buying and selling, trades reported to the SEC that involve awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers have been eliminated in data used to evaluate and write this story.
Today’s Insider Activity
* Andy L Nemeth, Director and Officer, sold 10,000 shares
* Todd M Cleveland, Director and Officer, sold 17,500 shares
Using proprietary Natural Language Generation (NLG) technology, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.
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