Boston, MA 10/09/2014 (wallstreetpr) – Tree.com Inc (NASDAQ:TREE) Chairman and CEO, Douglas Lebda, has resorted to unloading part of his holding in the open market on October 6 and 7. He seems to have taken advantage of the current market price, which is close to a one-year high price. This was the fourth time Douglas Lebda was involved in selling the company’s shares in October alone.
Unload Shares
The Tree.com Inc (NASDAQ:TREE)’s CEO divested 10,000 shares at the rate of $34.67 on October 7, according to Form 4 filed with the regulator on October 8. He has realized an amount of $346,700 from the sale of shares.
The selling price indicated that the Chairman and the CEO has sold part of his holding at a discount of 3.7% from the one-year high price of $36. He has realized a premium of 51.1% based on the 52-week price of $22.94.
On the previous day too, Lebda unloaded 10,000 shares at a cost of $35.13. The sale fetched him an amount of $351,300. Together, he has divested 20,000 shares to realize $698,000.
Following the offloading of part of his holding, the CEO’s holding reduced marginally to 1.88 million shares, which was valued approximately $64.45 million based on the price of $34.25 a share. His indirect holding through family trust was 45,374 shares, which was worth about $1.55 million.
Earlier Transactions
According to Nasdaq data, Tree.com Inc (NASDAQ:TREE) CFO, Alexander Mandel, has unloaded 5,252 shares on October 6 at the rate of $35.1. Lebda also divested 10,000 shares each on October 1, 2 and 3 at the rate of $35.3, $34.05 and $35.34 respectively.
In the last three-month period, there were only sellers unloading 128,922 shares.
2Q Results
The Tree.com Inc (NASDAQ:TREE) earned a profit of $2.7 million or earnings of 23 cents a share compared to a net loss of $5.8 million or a loss of 52 cents a share in the year-ago quarter. Its adjusted net income increased 24.3% to $4.6 million from $3.7 million. Similarly, its earnings per share advanced 25.8% to 39 cents from 31 cents in the prior year quarter. Total revenue grew 5% to $42.1 million from $40.0 million in the previous year quarter.
