The Chairmen of 4 Companies Unload Shares, Plus Insider Buying at Lions Gate (LGF)

Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR) Chairman Sells Some Shares

Douglas B. Given, M.D., Ph.D., the Chairman of the Board of Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR), disposed of 12,000 shares of the company on Friday at an average price of $6.72. Dr. Given is now left with a direct ownership stake of 70,000 shares, which includes restricted stock units subject to various vesting conditions.

Arrowhead Pharmaceuticals Inc. (NASDAQ:ARWR) announced a collaboration with Spring Bank Pharmaceuticals, Inc. (NASDAQ:SBPH) a couple weeks ago, which will see its ARC-520 tested in combination with Spring Bank’s SB 9200 for the treatment of HBV. After preclinical trials, the agents will be integrated into Arrowhead’s ongoing MONARCH trial of ARC-520.

While Arrowhead’s shares are up by 8% this year, they’ve dipped by 9% this month after Alnylam Pharmaceuticals, Inc. (NASDAQ:ALNY) announced earlier this month that it was dropping development of revusiran, an RNAi treatment. Arrowhead is also focused on the development of RNA interference treatments. Five investors in our database were long Arrowhead Pharmaceuticals on June 30, owning just 0.40% of its shares.

Chairman’s Trusts Unload 300,000 Shares of CSX Corporation (NYSE:CSX)

The Michael Ward Revocable Trust and Michael Ward GRAT #3, both of which CSX Corporation (NYSE:CSX) Chairman and CEO Michael Ward is the trustee of, sold off a combined 300,000 shares on Monday at a price of $30.97 per share. Mr. Ward now holds indirect ownership of 74,539 shares through the Michael Ward Revocable Trust, as well as direct ownership of 198,742 shares, and indirect ownership of 397,303 shares through the CSX Corporation Executive Stock Trust, and 14,872 shares through the CSX Corporation 401(k) Plan.

While CSX Corporation (NYSE:CSX) doesn’t see much room for growth in coal volumes in 2017, analysts are nonetheless moderately bullish on the company near-term, as it heads into a year of easier comps and as pricing improves. CSX also stated recently that it would “look hard” at its dividend in 2017. Its quarterly dividend has been unchanged for the past six quarters at $0.18, paying out an annual yield of 2.32%. Shares of CSX have posted 18% gains this year. Charles Paquelet‘s Skylands Capital trimmed its CSX position by 22% during the third quarter, leaving it with 291,700 shares.

IDT Corporation (NYSE:IDT) Co-Chairman Gets In On The Selling

Bill Pereira, the Co-Chairman of the Board of IDT Corporation, and CEO and President of IDT Telecom, unloaded 13,341 shares of IDT Corporation (NYSE:IDT) on Monday, at an average price tag of $17.34. Mr. Pereira is now left with direct ownership of 34,666 restricted stock units, which begin to vest on January 5, 2017. He also has indirect ownership of 2,866 shares through a 401(k) Plan.

The insider sale comes amid IDT Corporation (NYSE:IDT) surging to its 52-week high in recent weeks, which has pushed the stock’s year-to-date gains to over 50%. The telecom company has done a good job cutting SG&A expenses this year, with the figure coming in at $48.9 million during its fiscal fourth quarter, down from $54.1 million a year earlier. Adjusted EBITDA was also up by $0.5 million to $45 million for the company’s 2016 fiscal year. Peter Algert and Kevin Coldiron’s Algert Coldiron Investors sold off its stake of 58,619 IDT shares during the third quarter.

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