Microsoft Corporation (MSFT) and Antero Resources Corp (AR) Register Sizeable Insider Sales; Plus Insider Buying at Three Other Companies

In-flight Broadband Firm Registers Massive Cluster of Insider Buying

Gogo Inc. (NASDAQ:GOGO) witnessed a cluster of insider buying earlier this week, the kind of insider buying the investment community should pay close attention to. To begin with, board member Charles C. Townsend bought 200,000 shares on Monday at prices varying from $10.20 to $11.00 per share, all of which are held by the Charles C. Townsend III Trust that currently owns 301,400 Gogo shares. Ash ElDifrawi, Chief Commercial Officer and Executive Vice President, purchased a 50,000-share block on the same day at prices that fell between $10.48 and $10.97 per share, boosting his overall ownership to 78,087 shares. Last but not least, President and CEO Michael Small snatched up 50,000 shares at prices ranging from $10.20 to $10.50 per share, which lifted his holding to 244,832 shares.

The provider of in-flight connectivity and wireless in-cabin digital entertainment solutions has seen 37% of its market value being lost since the beginning of the year. Gogo Inc. (NASDAQ:GOGO)’s stock has lost a great deal of value after rival company ViaSat Inc. (NASDAQ:VSAT) won a major contract with American Airlines Group Inc. (NASDAQ:AAL). ViaSat was selected as the in-flight Wi-Fi provider for American’s new 737 Max fleet. Andy Redleaf’s Whitebox Advisors trimmed its stake in Gogo Inc. (NASDAQ:GOGO) by 66% during the second quarter to 28,146 shares.

The CEO of This Consumer Goods Company Buys Some Shares Despite Stepping Down

The man in charge of Hanesbrands Inc. (NYSE:HBI) also snapped up some shares earlier this week. CEO and Chairman Richard A. Noll, who will step down from his role as CEO on October 1 and will continue to serve as Executive Chairman, acquired 20,000 shares on Tuesday at prices that ranged from $25.71 to $25.75 per share. After the recent purchase, Mr. Noll currently holds an ownership stake of 870,077 shares.

The consumer goods company with a portfolio of leading apparel brands such as Hanes, Champion and others has seen the value of its stock drop by 9% since the start of the year, reflecting a sales slowdown in recent quarters due to struggles in the entire retail industry. In mid-July, the North Carolina-based retailer acquired Pacific Brands Limited in an all-cash transaction valued at $800 million. The freshly-acquired company is an underwear and intimate apparel company in Australia. Hanesbrands lost some appeal among the hedge funds followed by Insider Monkey during the first quarter, as the number of funds invested in the company fell to 34 from 42 quarter-over-quarter. Ric Dillon’s Diamond Hill Capital acquired a new stake of 6.25 million shares of Hanesbrands Inc. (NYSE:HBI) during the second quarter.

The final page of this article will discuss fresh insider selling registered at two other companies.