Significant Insider Sales in Shares of Patrick Industries (PATK) Extends the Selling Trend of Last Quarter

Wednesday, October 04, 2017 10:15 PM ET

Significant Insider Sales in Shares of Patrick Industries (PATK) Extends the Selling Trend of Last Quarter

There was a significant level of insider selling disclosed today in filings with the SEC for Patrick Industries. Two insiders — Andy L Nemeth, Director and Officer, and Jeffrey L Gendell, Director — sold 29,058 shares in the company for approximately $2,488,880. There have been 7 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 disposition of 94,462 company shares over this time period. Adding the most recent activity to this 90-day history indicates insider trades have been net sales of 123,478 shares and have averaged 13,729 shares per transaction over this time period.

Relative to its peers over the last 90 days, insider buy/sell trading at Patrick Industries is above the 4-company peer group average. Doors & Window Frames peer group saw 15 buy/sell trades during this period for an average of 3.8 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 111,678 shares sold with company insiders selling 7,342 shares on average.

In order to focus on significant insider buying and selling activity, all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers has been eliminated data used to evaluate and write this story.

Today’s Insider Activity
* Andy L Nemeth, Director and Officer, sold 3,000 shares
* Jeffrey L Gendell, Director, sold 26,058 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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