In a continuing selloff of Patrick Industries, Inc. (NASDAQ:PATK) stock, as MHProNews has noted on numerous occasions recently (see Sept 3, 2015), Jeffrey L. Et Al Gendell sold 77,364 additional shares of company stock at an average price of $44.88 for $3,472,096.32. This adds to the 113,000 shares he has sold that MHProNews has documented, now totaling over $5 million.

Additionally, Patrick Industries CEO Todd Cleveland sold 56,528 shares of Patrick stock on Sept. 4, 2015 at an average price of $44.35; 100,000 shares on Sept. 8 at an average price of $44.49; and 25,682 shares on Sept. 9 at $44.99. His net value equals $8.1 million, as reported by dakotafinancialnews.

Cleveland now directly owns 478,298 shares in the company, valued at approximately $21,518,627.02. On Sept. 1, C. L. King upgraded shares of Patrick from a “buy” rating to a “strong” buy rating and set a $51.00 target price on the stock.

In today’s trading, Patrick closed down -0.23 percent at $44.30.

Patrick manufactures and distributes components to the manufactured housing and recreational vehicle industries. ##

(Image credit: fotosearch)

Article submitted by Matthew J. Silver to Daily Business News-MHProNews.