Doug and Thread- What do you make of the following? Thanks for any opinion you can offer. -MikeM(From Florida)
****************
Selling Stock Allied with Broadband Phenomenon?
Friday, Feb. 25, 2000
By Bob Gabele, America-iNvest.com
CSG Systems International (CSGS) has staged an impressive comeback, more than recouping the ground lost last summer. Even ignoring the recent momentum, investors might be apprehensive about selling a stock even loosely associated with the broadband phenomenon.
For what it?s worth, insiders at CSG, which provides customer management solutions, apparently don't share this mindset. From Jan. 24 to Jan. 27, four sold or filed intentions to sell a combined 144,464 shares at $41 to $47.50 per share. Notably, this is in addition to the 190,600 shares sold by these insiders in November.
Insiders at CSG put themselves on the map as good-timers during April and May 1999, when they sold 97,000 shares immediately preceding a four-month more-than-45% decline.
Strikingly, all of the insiders involved in the recent rounds are selling more now than they did in the last round.
COO John Pogge sold 30,000 shares and has indicated plans to sell 20,000 more -- eight times more than he sold in the previous round. Chairman and Co-founder Neal Hansen sold 50,000, bringing his three-month total to three times the number sold during last spring.
CFO Greg Parker registered 24,464 shares for sale, likewise bringing his three-month total to three times his previous round of sales. Finally, Director, Co-founder and former CTO George Haddix registered to sell 20,000 shares.
Insiders were silent during the stock's downturn. The company, however, repurchased 355,000 shares of company stock during the last reported quarter. And while operating results have indeed shown improvement, it is curious that insiders should be selling when the company was so recently buying.
CSG Systems management solutions include software products and processing and other services for the cable television, direct broadcast satellite and online service industries. |
