Cluster of Insider Selling at Well-Known Investment Bank, Plus Noteworthy Insider Buying at Four Other Companies

Cluster of Insider Buying at Equipment Services Company After Revealing Weak Results

Three different insiders at H&E Equipment Services Inc. (NASDAQ:HEES) bought shares this week. Board member Paul N. Arnold bought 5,000 shares on Tuesday at $12.82 apiece, lifting his overall holding to 53,078 shares. Furthermore, Chief Executive Officer John M. Engquist snapped up 17,000 shares on Monday for $14.07 each and 17,000 shares at $13.40 apiece on Tuesday. Mr. Engquist currently holds an aggregate of 2.82 million shares following the recent acquisitions. Last but not least, Chief Operating Officer and President Bradley W. Barber bought 6,626 shares on Monday at a price of $14.22 per share and 4,901 shares on Tuesday for $13.44 each. Mr. Barber currently owns 137,686 shares.

The cluster of insider buying comes shortly after the U.S. integrated equipment services company focused on heavy construction and industrial equipment released a rather disappointing third-quarter earnings report. H&E Equipment Services Inc. (NASDAQ:HEES)’s revenues for the quarter decreased by 11.6% year-over-year to $244.7 million, mainly reflecting the adverse impact of weather on the company’s operations. The company’s business experienced a short halt as constructions projects were temporarily delayed due to a flooding event in mid-August. The shares of H&E Equipment Services are 22% in the red this year. David Keidan’s Buckingham Capital Management owns 288,077 shares of H&E Equipment Services Inc. (NASDAQ:HEES) as of September 30.

Chairman of Tuesday Morning’s Board Buys Shares After Share Price Drop

One important member of Tuesday Morning Corporation (NASDAQ:TUES)’s boardroom bought a relatively large amount of shares this week. Terry L. Burman, the Chairman of the company’s Board of Directors, acquired 40,000 shares on Monday at prices between $4.92 and $4.95 per share. After the recent purchase, Mr. Burman currently owns 155,835 shares.

The off-price retailer specializing in selling deeply-discounted, upscale decorative home accessories, housewares, seasonal goods and famous-maker gifts has seen its market capitalization drop by 28% since the start of the year. The company’s shares have performed quite poorly over the past six months, as the stock is 39% in the red in the past six-month period. Tuesday Morning Corporation (NASDAQ:TUES) operates 742 stores in 40 states as of September 30, down from 757 stores at the end of September 2015 due to the company’s strategy to improve store real estate. Meanwhile, the company’s net sales for the quarter that ended September 30 were $211.9 million, marking an increase of $9.6 million year-on-year. Comparable store stales for the quarter rose by 5.1% compared to the same period of the previous year. Steve Cohen’s Point72 Asset Management added a 350,100-share position in Tuesday Morning Corporation (NASDAQ:TUES) to its portfolio during the second quarter.

The final page of this article will discuss noteworthy insider trading recently observed at two other companies.