1-800-Flowers Executives Bought Up Stock

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1-800-Flowers Executives Bought Up Stock
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Chief Financial Officer Bill Shea and President Tom Hartnett bought a total of about $350,000 of shares of flowers and gift retailer 1-800-Flowers.

The gift-delivery firm has seen shares lose about a quarter of their value this year. 1-800-Flowers , whose brands include the eponymous flowers business and Harry & David, made a temporary change at the top at the beginning of July when CEO Christopher McCann took a leave of absence for “personal health reasons” that will end by Dec. 31. The top post is being filled by company founder and Chairman Jim McCann, who is Christopher’s brother.

Chief Financial Officer Bill Shea and President Tom Hartnett paid $190,200 and $152,250, respectively, on Sept. 7 for 30,000 and 25,000 shares. Shea paid an average price of $6.34 per share, while Hartnett paid $6.09. According to a form Shea filed with the Securities and Exchange Commission, he now owns 274,883 1-800-Flowers shares, while Hartnett owns 280,333 shares.

1-800-Flowers didn’t respond to a request to make Shea and Hartnett available for comment. Shea last bought the stock on the open market in November 2015, when he paid $39,500 for 5,000 shares, at an average price of $7.90 each. Hartnett’s most recent purchase was last September, when he paid $153,000 for 25,000 shares, at an average price of $6.12 each.

The company’s latest quarterly results on Aug. 31 noted that while revenue remains “pressured by a challenging consumer environment,” it should rebound during the holiday period and beyond. Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

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