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Executive at Mass Customization Company Purchases Shares After Announcing Restructuring Plans

One member of Cimpress NV (NASDAQ:CMPR)’s management team piled up a block of shares earlier this week. Cornelius David Arends, Executive Vice President and President of the Upload and Print business unit, bought 4,640 shares on Monday at prices that fell between $85.80 and $86.38 per share. The shares were held indirectly via a limited company which owns 11,900 Cimpress shares after the sale.

The shares of the mass customization company plunged in late-January after the company released disappointing earnings for the second quarter of fiscal 2017 and announced a business restructuring initiative, which might have served as a trigger for the purchase mentioned above. Although Cimpress NV (NASDAQ:CMPR)’s revenue grew by 16% year-over-year to $576.9 million in the three months that ended December 31, the company’s net operating profit after taxes (NOPLAT) – an indicator of the profits generated from core operations – decreased by $31.9 million to $50.6 million. More importantly, Cimpress announced plans to decentralize its business so as to improve accountability and simplify decision-making, which seems to be a natural step in the company’s evolution. Nonetheless, investors seem to worry about the short-term effects of this restructuring effort on its near-term bottom-line figures, especially the earnings figure for the third quarter of its fiscal 2016, as the company plans to complete the majority of the changes during this quarter. Cimpress shares are up by 6% in the past year. Glenn Greenberg’s Brave Warrior Capital was the owner of 1.84 million shares of Cimpress NV (NASDAQ:CMPR) on September 30.

Board Member of Fast-Expanding Bank Buys Shares

A member of Horizon Bancorp (NASDAQ:HBNC)’s Board of Directors snapped up a block of shares this week as well. Board member Maurice F. Winkler III acquired an 8,000-share block on Tuesday at a price tag of $25.55 per share, which is held via his Individual Retirement Account (IRA). Mr. Winkler owns an additional 14,730 shares through a trust fund.

The registered bank holding company headquartered in Indiana has completed a series of acquisitions over the past several years, launching an aggressive expansion through mergers and acquisitions associated with increased risks due to unexpected credit quality problems of acquirers’ loans. In mid-July 2016, Horizon Bancorp (NASDAQ:HBNC) completed the acquisition of state-chartered savings bank The LaPorte Savings Bank, while in early-June Horizon completed the acquisition of Indiana corporation Konsciusko Financial Inc. and its subsidiary Farmers State Bank. Horizon also acquired CNB Bancorp, the parent company of The Central National Bank and Trust Company, in early-November. Horizon’s shares are down by 8% thus far in 2017. Jim Simons’ Renaissance Technologies reported owning 189,120 shares of Horizon Bancorp (NASDAQ:HBNC) in its 13F filing for the third quarter.

On the final page of this article, we’ll shift our focus to some fresh insider selling observed at two other companies.