Hi jhg_in_kc, two year ago the Stephens Trusts held about 48% of the company. They have been selling off and as of yesterday, they still own 18.9% of the company. These trusts are held by various Stephens family members. As I stated before, this was a planned sale. Filings were made with the SEC a few weeks ago.
IMO,these sales are intended to take profits off the table, and to reduce their holdings to a more "reasonable" level of ownership. I should note that the trusts still holds over 7 million shares. The family members are investors, but big time investors. Stephens Investment Banking took P-1 public, members of the firm are on the BoD, and Stephens was P-1's advisor on their recent acquisitions.
I don't know if the family will take their holdings down to zero. IMO, I doubt that this will happen...not as long as P-1 is a viable investment. By the way, we should keep in mind that P-1 was founded in the 70's. The company was privately held until the management buyout, and the public offering. So, it's safe to say that P-1 isn't a startup company that went public to make a bunch of "teenagers" rich. This is a viable company and a long time leader in their field. I can go on and on, but I think I've answered your question. If not, please let me know.
The question in my mind is simply how high, and fast, can the stock climb before it has to "rest" or correct. We just can't keep going up "forever".
Stock Bull |
