Tuesday: a good day for insider selling

Tuesday witnessed a high deal of insider selling within the apparel industry, with the likes of Abercrombie & Fitch, Chico’s FAS and Nike making it to the news due to the high volume of shares changing (insider) hands.

According to a SEC Form-4 filing, the president of Hollister brand and executive at Abercrombie & Fitch Co, Horowitz Bonadies Fran, had purchased shares worth of 225,500 dollars in a transaction dated on June 4, 2015. A total of 10,000 shares were purchased at a price of 22.55 dollars per share.

Also insider Christos E. Angelides bought 45,200 shares of the stock on the open market in a transaction dated Tuesday. The stock was purchased at an average cost of 22.16 dollars per share, for a total transaction of 1,001,632.00 dollars.

The stock saw a year- high of 45.5 dollars while its year-low was registered on March 5, 2015 at 19.34 dollars. A&F shares have rallied 7.25 percent during the last 52 weeks, highlights the ‘247Street’.

Presently, 2.14 percent of the shares are held by the company insiders and 108.8 percent of the shares remain in the hands of institutional investors.

Elsewhere, Nike Inc (NKE) disclosed Jeanne P Jackson sold 16,000 shares on Jun 5, 2015. The insider selling transaction was disclosed on Jun 8, 2015 to the Securities and Exchange Commission. The shares were sold at 101.46 dollars apiece for a total value of 1,623,318.38 dollars.

Additionally, traders bought shares of Nike (NYSE:NKE) on weakness during trading on Tuesday following insider selling activity, Market Beat.com reports.

Finally, Verna K Gibson, director of Chicos Fas Inc sold 60,000 shares on Jun 4, 2015. The Insider selling transaction was disclosed on Jun 8, 2015 to the Securities and Exchange Commission. The shares were sold at 16.80 dollars per share for a total value of 1,008,246.00 dollars.