Investing
Berkshire Partners Continues Heavy Insider Buying: Mattress Firm, Nimble Storage, Graham Holdings and More
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Welcome to the second quarter. After a roller-coaster first three months of the year, which took a huge rally off the lows to just get to even, investors may breathe a sigh of relief. One thing is for sure, with first quarter’s earnings season right around the corner, insider transactions are likely to slow down as windows to trade are closed for executives and 10% institutional owners.
We cover insider buying every week at 24/7 Wall St., and we like to remind our readers that while insider buying is usually a very positive sign, it is not in of itself a reason to run out and buy a stock. Sometimes insiders and 10% owners have stock purchase plans set up at intervals to add to their holdings. That aside, it still remains a positive indicator.
Here are some of the companies that reported notable insider buying last week.
Mattress Firm Holding Corp. (NASDAQ: MFRM) had a larger shareholder adding to positions this past week. Berkshire Partners made two significant buys. Earlier in the week, the company bought 205,409 shares of the stock at prices that fell between $39.02 and $39.48 apiece. The total for that trade came to $8 million. Later in the week, the company bought an additional 234,416 shares at share prices from $41.50 to $42.48, which cost an additional $10 million. The stock closed on Friday at $42.31, so the timing looks very good.
Commercial Vehicle Group Inc. (NASDAQ: CVGI) had a 10% owner of the company buying shares in a big way. The investors purchased a total of 643,300 shares at prices that ranged from $2.47 to $2.50. The total for the trade came to $1.5 million. The company designs, engineers, produces and sells various cab-related products and systems in North America, Europe and the Asia/Pacific regions. The stock closed Friday at $2.52.
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