- Five insiders sold Emmis Communications stock within one month.
- The stock was not purchased by any insiders in the month of intensive selling.
- Three of these five insiders decreased their holdings by more than 10%.
Emmis Communications Corporation (NASDAQ:EMMS) engages in radio broadcasting activities in the United States.
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Insider selling during the last 30 days
Here is a table of Emmis Communications' insider activity during the last 30 days.
|Name||Title||Trade Date||Shares Sold||Rule 10b5-1||Current Ownership||Decrease In Ownership|
|Gary Kaseff||Director||April 7-17||114,200||No||276,399 shares||29.2%|
|Richard Leventhal||Director||April 4||6,390||No||408,475 shares||1.5%|
|Patrick Walsh||CFO||April 4||59,215||No||514,006 shares||10.3%|
|Scott Enright||EVP||April 2-3||30,000||No||47,916 shares + 76,400 options||19.4%|
|Gregory Loewen||President, Publishing||April 2||9,300||No||193,241 shares + 30,000 options||4.0%|
There have been 219,105 shares sold by insiders during the last 30 days.
Insider selling by calendar month
Here is a table of Emmis Communications' insider activity by calendar month.
|Month||Insider selling / shares||Insider buying / shares|
There have been 1,558,401 shares sold, and there have been 29,601 shares purchased by insiders since January 2013.
Emmis Communications reported the fiscal 2014 full-year, which ended February 28, financial results on April 3 with the following highlights:
|Net income||$43.8 million|
Three of these five insiders sold their shares after these results.
Emmis Communications' fiscal 2015 first-quarter guidance is as follows:
|Same station revenue growth||Low to mid-single digits|
|Publishing revenue growth||Mid-single digits|
|Qtrly Rev Growth (yoy):||0.35||-0.01||-0.03|
|PEG (5 yr expected):||N/A||N/A||6.39|
Emmis Communications has the lowest gross margin among these three companies.
Here is a table of these competitors' insider activities this year.
|Company||Insider buying / shares||Insider selling / shares|
Only Emmis Communications has seen intensive insider selling during the last 30 days.
There have been five different insiders selling Emmis Communications, and there have not been any insiders buying Emmis Communications during the last 30 days. Three of these five insiders decreased their holdings by more than 10%. Emmis Communications has an insider ownership of 22.80%.
Before going short Emmis Communications, I would like to get a bearish confirmation from the Point & Figure chart. The main reason for the proposed short entry is the intensive insider-selling activity.
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.