ConnectOne Bancorp Inc. (CNOB) Insider Lawrence Seidman Sells 2,365,000 Shares


Lawrence B. Seidman, Director and majority shareholder at ConnectOne Bancorp Inc. (NASDAQ:CNOB), unloaded 2.365 million shares of Common Stock in a transaction executed on Wednesday. The stock sale was completed in two steps, selling 77,743 shares, directly, for a price of $18.56 per share and then disposing of the remaining 2,287,257 shares indirectly, for the same price. This disposition is the first to be completed by Seidman this fiscal year and constitutes the second insider stock sale of the quarter, as Mark Cardone, Vice President, sold 6,130 shares of Common Stock in April, paying $18.40 per share.

Furthermore, Q2 of 2014 showed some interesting movement amongst hedge funds, as Anton Schutz’s Mendon Capital Advisors entered a new shareholder position, by acquiring 180,934 shares for a value of $3.4 million. Also, ConnectOne comprises 1.14% of the hedge fund’s portfolio. However, the largest shareholder remains Leon Cooperman’s hedge fund, Omega Advisors, which experienced no changes this quarter and still owns 545,000 shares, worth $10.35 million.

Disclosure: none