News Breaks
|
| 22:03 EDT |  | LUK |
| theflyonthewall.com: | Top insiders at Leucadia sold about $47M worth of stock, Barron's reports | | Top insiders at Leucadia National (LUK) have begun selling stock again in the past month, disposing of about $47M worth of shares, after a lull that lasted more than a year. Leucadia Chairman Ian Cumming led the selling, cashing in 848,435 shares since Oct. 13 for about $22M, or about $25.64 per share. Cumming continues to own about 10% of the company, though he isn't done selling. In a regulatory filing on Oct. 9, he announced he planned to sell one million shares under a selling plan. Joseph Steinberg, the president of the company, has sold one million shares since Sept. 28 for about $25M, or about $24.91 per share. Steinberg owns about 11% of the company. Jesse Clyde Nichols III, a director at the company, sold 9,000 shares for $218,000, or about $24.19 per share. Nichols owns less than 1% of the company. Lon Juricic, president of StreetInsider.com, says the sales shouldn't spook investors given the executives' large stakes and history of selling by top insiders. "It doesn't look like it's predictive of short-term movement in the stock," Juricic says. Reference Link :theflyonthewall.com |
|
|
