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DRAD Directors Increase Their Stake in the Medical Supply Company
4/25/2013 12:09:00 PM
Two directors at Digirad Corporation (
) are continuously adding to their stake in the company. The
directors, Jeffrey Eberwein (chairman) and Charles Gillman bought
9,000 shares each this week for a combined 18,000 shares. These
shares traded at an average price of $2.60.
On March 13, the company announced its plan to increase its share buyback practices by establishing a new CEO ownership policy that requires significant equity participation equal to three times the CEO's base salary. The restructuring increased the share buyback from $7 million to $12 million. It also adopted the resolution to require shareholder approval for any acquisition exceeding $5 million in purchasing prices.
"These changes demonstrate the shareholder orientation of this Board and our commitment to continually enhance our corporate governance," said Chairman Jeffrey Eberwein. "Moving forward, management and the Board will maintain a clear focus on executing the business plan and returning value to shareholders-by direct means such as share buybacks and by enhancing our market value by growing cash flow per share over time."
Jim Simons currently holds 767,700 shares of Digirad.
With its shares up 1.14%, DRAD trades at $2.66.
To see Digirad's complete list of insider trades, look at the company's insider trade history.About GuruFocus: GuruFocus.com tracks the stocks picks and portfolio holdings of the world's best investors. This value investing site offers stock screeners and valuation tools. And publishes daily articles tracking the latest moves of the world's best investors. GuruFocus also provides promising stock ideas in 3 monthly newsletters sent to Premium Members .