Yesterday, CIM Commercial Trust Corp (NASDAQ:CMCT) saw four of its insiders complete stock purchases. The talk is of Directors and 10% company owners, Avraham Shemesh, Shaul Kuba, and Richard Ressler, as well as large shareholder CIM Service Provider, LLC. In a well-coordinated stock transaction, all four insiders bought 5,105 shares of Common Stock, directly, and the acquisition was effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on January 29, 2014. The purchase was executed over two days and commenced on Thursday, when all four insiders acquired 3,300 shares for an average weighted price of $21.26 per share. The remaining 1,805 shares of Common Stock were bought yesterday, paying an average weighted price of $21.22 per share.
And while stock purchases have been fairly common at the $1.4 billion market cap real estate investment trust this year, the firm’s only hedge fund shareholding position was newly occupied by James Dondero’s Highland Capital Management, which owns 27,500 share, with a value of $126,000.