Boston, MA 09/15/2014 (wallstreetpr) – In what is seen as a clear move to take advantage of the higher prevailing price, which was close to the 52-week high price, brokerage services company, TD Ameritrade Holding Corp. (NYSE:AMTD) President and Chief Executive Officer, Fredric Tomczyk, has divested 175,000 shares during the last week by unloading shares on all the five trading sessions.
Sell Shares
The TD Ameritrade Holding Corp. (NYSE:AMTD)’s CEO has divested 60,000 shares on September 10 at the rate of $32.79 realizing an amount of $1.97 million, a Form 4 filed with the Securities Exchange Commission on September 12 indicated. In the following day too, he has unloaded 29,349 shares at $32.8 a share and realized $962,647. Similarly, on September 12, Tomcyz has sold 45,651 shares at the rate of $33.13 to get $1.18 million. Totally, there was 125,000 shares were unloaded to realize $4.11 million.
On September 8 and 9 also, the CEO has divested 35,000 shares and 15,000 shares at the rate of $32.68 and $32.57 respectively, as per Nasdaq data. The latest selling price indicated close to 29% premium from the yearly low price of $25.47 but realized nearly 8% weaker than the 52-week high price of $35.82. As a result of these 175 shares sold, his holding in the company has got reduced to 924,087 shares worth approximately $30.88 million.
So far in September, another big shareholder, Marlene M Ricketts 1994 Dynasty Trust has unloaded close to 1.84 million shares through seven transactions at different prices.
One-Year Insider Role
In the last three months, there were 35 transactions from the insiders. While 13 represented buying of shares, 22 related to selling of shares. This meant that 7,131 shares were purchased compared to 4.195 million shares sold. As a result, there was a net selling activity of 4.19 million shares by the insiders during the last three-month period.
Similarly, there were 161 transactions in the last 52-week period, and 82 belonged to buying activities while 79 related to selling of shares. However, the number of shares sold was close to 14.8 million compared to just 485,711 shares purchased. This has left a net selling activity of 14.31 million shares in the last one year-period.
A significant number of shares sold by the insiders could very well suggest that there would not likely be further room for upside rewards in the near-term. The consensus is also in favor of Sell.
