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Any comments on the action of the founders in dumping 5 million shares at $5? Presumably they see this as a good time to do a bit of profit taking - which I recently did at $5.40. However, I have no doubt as to the longer-term merits of this share and I will be looking to buy in again, sometime, at somewhere nearer $4.50. It has had a good run for the time being.
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Each to his own and all that but I would be surprised if it goes much below $5.00 again
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I bought a few today and would be surprised if it falls below $5-I hope it does as I would like to buy a lot more.
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Colin I think you may be waiting a while at that $4.50 figure. Did you mean $5.50? ;)
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hope they go under $5 my self will be in boots and all trying to pick a good time to buy still wonder why the founders sold down what long term does this mean? happy xmas will be watching these in 06
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Kevin Hickman still has 10m shares, so if he doesnt have the confidence in the firm, why would he leave $50 million of his money?
My guess is, he wants to fund some of his new investments that Ryman as a firm cannot get into.
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Ryman CEO Hickman sells down
22 December 2005
Chief executive of pensioner home operator Ryman Healthcare Kevin Hickman sold his stake in the company down from 15 per cent to 10 per cent yesterday.
The 5 million shares were sold to institutions at $5.00, a 20c discount to yesterday and today's closing price.
UBS broker Richard Leggat said it was usually a bad sign when management sold shares. "But he still has a lot of skin in the game which is a comfort," he added.
Chairman David Kerr said that if the company was going backward it might be seen as a negative, "but that's not a description you could apply to Ryman".
He said Mr Hickman's family was heavily exposed to one company and it was sensible to spread his investments.
Ryman has been one of the best stocks in the top 50 index this year, rising from $3.65 at the start of the year. At the start of 2004 it was priced at $2.23.
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$5.68 and not a single seller!! My target of $8.50 in 2 years is looking increasingly achievable. Please see previous page for complete analysis.
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MET appears to be fresh out of sellers also.
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Mrrrmble! Urrmmmblll! Rrrmmmmmphhh!!