Insiders at McDonald’s and BNY Mellon Discard Shares, Interim CEO of Surgical Device Company Buys $4 Million Worth of Stock, and More

Board Member and CFO at Struggling Casual-Dining Chain Buy Shares

Two corporate insiders at BJ’s Restaurants Inc. (NASDAQ:BJRI) piled up some shares earlier this week. To start with, Gregory S. Levin, Chief Financial Officer, Executive Vice President and Secretary, bought 1,500 shares on Wednesday at a cost of $33.72 per share. This purchase lifted Mr. Levin’s ownership stake to 35,065 shares. Board member Noah A. Elbogen purchased three blocks of 5,000 shares each on Wednesday at prices ranging from $33.34 to $33.73 per share. Mr. Noah currently holds an aggregate of 46,271 shares following the recent purchase.

The aforementioned insider purchases come after the casual-dining chain known for pizza and beer released disappointing results for its fiscal 2016 third quarter that ended September 27. Interestingly enough, the man in charge of BJ’s Restaurants Inc. (NASDAQ:BJRI) blamed the the volatile U.S. presidential election, particularly the debates, for the disappointing results. “The tone of this year’s political season, regardless of where your allegiance may lie, has generated what some would call a nearly unprecedented level of negativity and doubt in the minds of everyday American citizens,” said CEO Greg Trojan on a recent conference call. “Overall, retail trends and the results of other businesses dependent on consumer discretionary spending confirm that during the quarter, many preferred to stay home versus going out,” pointed out the CEO. The casual-dining chain has seen its market capitalization fall by 22% since the beginning of the year. Ken Griffin’s Citadel Advisors LLC had around 383,000 shares of BJ’s Restaurants Inc. (NASDAQ:BJRI) in its portfolio at the end of the June quarter.

President of BDC Paying Double-Digit Dividend Yield Buys Shares Via Public Offering

One member of Gladstone Capital Corporation (NASDAQ:GLAD)’s executive team bought a block of shares this week. President Robert L. Marcotte purchased 25,000 shares on Tuesday at a price of $7.98 per share, a purchase that boosted his ownership to 321,950 shares. The block of shares was acquired in a public offering of 2 million shares, an offering that raised $15.1 million in net proceeds.

The business development company that invests in debt and equity securities of established private businesses in the United States intends to use the net proceeds from the offering to repay existing indebtedness, fund investments, as well as cover general corporate expenses. Gladstone Capital Corporation (NASDAQ:GLAD) is set to pay monthly cash distributions of $0.07 per share for November and December, with the monthly dividend payment yielding 10.69% annually. The BDC’s total investment income for the three months that ended June 30 was $9.84 million, marking a decrease of 0.9% year-over-year. The shares of the BDC are up 7% this year. Ken Griffin’s Citadel Advisors LLC sold out its 23,620-share stake in Gladstone Capital Corporation (NASDAQ:GLAD) during the second quarter.

The final page of this article discusses fresh insider selling witnessed at two giant companies.