Robert Flanagan, Director at Sagent Pharmaceuticals Inc. (NASDAQ:SGNT), completed a stock disposition of 16,000 shares on Friday. The Common Stock was sold in a two day transaction, which the insider executed indirectly through CNF Investments II, LLC. Flanagan unloaded 8,000 shares on Thursday, paying a weighted average price of $26.25 per share, while the remaining 8,000 shares were sold on Friday for a slightly lower price of $26.11 per share. The Director has been regularly unloading batches of 8,000 shares over the past quarter, with his latest sale dating to the beginning of July. Following Friday’s disposition, Flanagan now owns a total of 537,770 shares of the $411.6 million market cap pharmaceutical firm.
On another note, this quarter of the fiscal year showed some developments amongst hedge funds, with several new shareholder positions. Ken Griffin’s Citadel Investment Group entered a position as the third largest shareholding hedge fund, with 542,258 shares, worth approximately $12.6 million. Steven Cohen’s Sac Capital Advisors also entered a new position, with 142,700 shares, worth $3.3 million.