MHMY insider sales
Wow - that's massive. Here's the news from February 18:
"On Feb. 4 and 5, as M.H. Meyerson's stock zoomed up to a record $21.88, the firm's chairman, Martin Meyerson, and its vice chairman, Kenneth Koock, sold 610,002 shares and 250,000 shares, respectively."
"Meyerson sold 100,000 shares at an average price of $15.98 a share on Feb 4; and an additional 110,002 shares at an average price of $9.60 a share the next day. Meyerson still owns some 2.5 million shares, or 44.5 percent of the firm's outstanding stock, after the transaction."
Note that he did this just before they announced a great quarter. And at current prices he still appears to consider the company a Hindenburg blimp. The latest (2/23) filing shows him selling 1,050,002 additional shares which he'll get maybe half as much for - he must be kind of keen to get out. His family is selling another 134,625.
"Koock sold 150,000 shares for an average price of $14.10 a share, and 14,625 shares at $11.13 a share. Koock still owns 395,000 shares, including options covering 275,000 shares."
Today's filing shows him selling almost all of that - 550,000 shares.
The February insider sales add up to more than 2,5 million shares, which more than doubles the float. This management appears to have played the internet mania very deliberately, issuing a press release about going on-line and standing ready to cash in. Or maybe it's just coincidence - anyway, down we go.
This is the chairman and the vice chairman - they probably look to pick it up again around 1 or 2.
Kailash
For the Feb 18 news, see biz.yahoo.com
For today's 144s, see messages.yahoo.com@m2.yahoo.com (the Edgar I have access to doesn't show them yet) |
