Icahn buys 264,500 Hain shares

Carl Icahn’s $6 million purchase Wednesday of a quarter-million shares of Hain Celestial Group ranked among the top ten insider buys of the day, the financial news site TheStreet.com reports.

Icahn’s purchase ranked #2 in the day’s top ten insider deals. He spent $5,980,738 on 264,500 shares.

Icahn in May raised his stake in Hain Celestial from 7 percent to 11.9 percent. Icahn has said he believes Hain's shares are undervalued.

The Melville-based natural foods company in July disclosed that it had worked out a deal with Icahn—he would support its new slate of directors, in exchange for Hain appointing two new board directors, including Icahn’s son, Brett.

TheStreet.com said it got the insider-sales numbers from the Securities and Exchange Commission’s daily tallies.
 
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