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CompUSA Insiders Buying (From today's WSJ Online)
It appears iMac sales helped CompUSA insiders, as well as market decline, decide brighter days ahead.
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Inside Track
Technology Insiders Take Up
Bargain Hunting in Their Stocks
By LAURA SAUNDERS EGODIGWE
Staff Reporter of THE WALL STREET JOURNAL 9/16/98
<Meanwhile at CompUSA, nine executives bought 286,600 shares from Aug. 21
to Aug. 28, at prices ranging from $14.13 to $17.75, for a total of $4.3
million, according to CDA/Investnet, a Rockville, Md., company that
tracks insider transactions.>
<"It's the first time we've seen this type of consensus buying [at
CompUSA] since 1995," Mr. Ponticello said. CompUSA officials declined to
comment.>
<On Aug. 28, Lawrence Mondry, executive vice president of merchandising
at the computer retailer, bought 100,000 shares at prices ranging from
$14.25 to $14.38. President and Chief Executive James Halpin bought
75,000 shares from Aug. 26 to Aug. 27 at prices ranging from $15.06 to
$17.07.>
<Meanwhile, Harold Compton, CompUSA's executive vice president and chief
operating officer, bought 50,100 shares at $14.13 to $14.25 apiece on
Aug. 28. Paul Ewert, the company's senior vice president of
merchandising, bought 10,000 shares at $14.25 a share on Aug. 28.>
<"Insiders at CompUSA have shown a tendency to time their trades well
over the years, both on the buy and the sell side," said Bob Gabele,
CDA/Investnet's president.> |
