Insider Selling at GrubHub Inc. (GRUB) Following Share Price Drop, Cluster of Insider Buying at Malvern Bancorp Inc. (MLVF), Plus More Insider Trading

Cluster of Insider Selling at Chipmaker After Acquisition Approval by Shareholders

Three different executives at Linear Technology Corporation (NASDAQ:LLTC) discarded shares throughout the course of the previous week. Executive Chairman Robert H. Swanson offloaded 20,598 shares on Friday at prices varying from $60.17 to $60.30 per share, all of which were held in a trust fund that holds 291,844 shares following the sale. Mr. Swanson also holds a direct ownership stake of 144,695 shares. David A. Quarles, Vice President of International Sales, sold 3,000 shares last Tuesday at prices between $60.22 and $60.23 per share. After the recent transactions, Mr. Quarles currently owns an aggregate of 57,588 shares. Donald E. Paulus, Vice President and General Manager of the Power Business Unit, liquidated 9,998 shares on Tuesday at a weighted average price of $60.26 per share, cutting his overall holding to 113,013 shares.

In late July, Analog Devices Inc. (NASDAQ:ADI) agreed to buy fellow chipmaker Linear Technology Corporation (NASDAQ:LLTC) for a total consideration of around $14.8 billion. Under the terms of the agreement, Linear shareholders are set to receive $46.00 per share in cash and 0.2321 shares of Analog Devices for each share of Linear owned. Even prior to the announcement of the acquisition agreement, Linear Technology had been viewed as one of the most attractive acquisition targets in the semiconductor industry because of its high margins and engineering talent. Earlier this month, Linear shareholders approved the multi-billion-dollar deal at its Annual Meeting of Stockholders. Jim Simons’ Renaissance Technologies LLC had around 7.40 million shares of Linear Technology Corporation (NASDAQ:LLTC) in its portfolio at the end of the June quarter.

CMO at Well-Known Online Good Delivery Company Sells Shares

One member of GrubHub Inc. (NYSE:GRUB)’s executive team discarded a sizeable block of shares at the end of the previous week. Barbara Martin Coppola, the Chief Marketing Officer of GrubHub since March 2015, liquidated 11,950 shares on Friday at prices that ranged from $38.55 to $38.67 per share. After the recent sale, Ms. Coppola currently holds a mere 1,160 shares of GrubHub.

The insider selling comes shortly after the online food ordering and delivery company released its financial results for the third quarter. Although GrubHub Inc. (NYSE:GRUB) posted sales and earnings that beat Wall Street estimates, the company’s shares fell by around 9% following the earnings release. Investors started to worry about the company’s growth. As some analysts suggest, when investors see that growth rates are starting to peak, they fear slowing growth going forward. The company posted quarterly revenues of $123.5 million, which marked an increase of 44% year-over-year. GrubHub shares are 56% in the green this year. Ross Turner’s Pelham Capital owns 5.77 million shares of GrubHub Inc. (NYSE:GRUB) as of September 30.

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