Insider Sell at Globe Specialty Metals Inc. (GSM): Alan Kestenbaum Unloads 50,500 Shares

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Alan Kestenbaum, Executive Chairman, Director and 10% owner of Globe Specialty Metals Inc. (NASDAQ:GSM), sold a bulk of 50,500 shares of Common Stock, directly. The transaction was executed in two sales, the first on Thursday, where the Director unloaded 25,500 shares for $20.86 per share. The sale was then completed on Friday, with a disposition of 25,000 shares for a price of $20.75 per share. This insider sell is one of many executed by Kestenbaum throughout June, but in May there were also insider purchases. This was the case with Chief Executive Officer, Jeff Bradley, who acquired 20,000 shares for an average value of $18.60 per share.

Furthermore, while some hedge funds have slightly decreased the $1.51 billion market cap firm’s participation in their portfolios, overall shareholder positions remain strong. Global Specialty account for 8.12% of Blue Harbor Group’s portfolio, the hedge fund run by Clifton S. Robbins, with 7.22 million shares, worth $150.3 million. However, Chuck Royce‘s Royce & Associates remains the largest shareholder, with 8.27 million shares, worth $172 million.

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