Have a Look at Three Companies with Fresh Noteworthy Insider Selling; Leading Title Insurance Provider Among Them

Leading Title Insurance Provider Witnesses Increased Insider Selling

The insider selling activity at FNF Group of Fidelity National Financial Inc. (NYSE:FNF) has been intensifying in recent months and weeks, so let’s have a look at the most recent insider selling. President Michael Joseph Nolan discarded one block of 6,894 shares and another one of 13,106 shares on Tuesday at prices varying from $36.71 to $37.02 per share, cutting his direct ownership stake to 69,143 shares. Mr. Nolan also holds an indirect ownership stake of 26,221 shares, which is held by a trust fund called Michael J. Nolan Trust.

The largest title insurance provider in the United States has seen its market value jump by 6% since the start of 2016. Black Knight Financial Services, a majority-owned subsidiary of FNF Group of Fidelity National Financial Inc. (NYSE:FNF) operating a leading residential mortgage servicing technology platform in the U.S., recently acquired provider of customized mortgage business intelligence analytics Motivity Solutions. The freshly-acquired company was one of the fastest-growing companies in the U.S. in 2012, according to some rankings. FNF’s total revenues for the first three months of 2016 decreased by $13 million year-over-year to $2.05 billion.

The hedge fund sentiment towards FNF increased during the first quarter of 2016, as the number of funds from our system invested in the company jumped to 44 from 40 quarter-on-quarter. Those 44 asset managers amassed nearly 14% of FNF’s total number of outstanding shares. Keith Meister’s Corvex Capital had 19.13 million shares of FNF Group of Fidelity National Financial Inc. (NYSE:FNF) among its holdings at the end of the March quarter.

Online Re-marketer of Vehicles Sees Freshly-Resigned Executive Sell Some Shares

Copart Inc. (NASDAQ:CPRT) has seen one of its executives sell shares heavily over the past several weeks. Paul A. Styer, General Counsel since September 1992 and Senior Vice President since April 1995, sold 7,640 shares on Tuesday at a price tag of $49.26 each, all of which were held in a trust fund called Styer Revocable Trust. After the recent sale, Mr. Styer currently holds an indirect ownership stake of 70,718 shares. In early June, Mr. Styer notified Copart that he will resign as Senior Vice President, General Counsel, and Secretary on the last day of July, so the recent insider selling should not worry investors.

The provider of online auctions and vehicle remarketing services has seen the value of its stock gain an impressive 29% since the beginning of 2016. Copart Inc. (NASDAQ:CPRT), which earlier this year reveled plans to open 15 new locations over the next year, recently announced the expansion of its location in Orlando. The leading online re-marketer of vehicles reported total service revenues and vehicle sales of $347.25 million for the three months that ended April 30, up a whopping 16.9% year-over-year. The increase was mainly attributable to increased volume and an increase in revenue per care due to a change in the mix of vehicles sold.

Copart fell out of favor with the hedge funds followed by Insider Monkey during the first three months of 2016, as the number of funds invested in the company dropped to 23 from 33 quarter-over-quarter. Those 23 asset managers hoarded up almost 6% of the company’s outstanding shares. Jeffrey Gates’ Gates Capital Management added a 370,540-share position in Copart Inc. (NASDAQ:CPRT) to its portfolio during the March quarter.

Disclosure: None