Director Files Intent to Sell $601K in Shares
Summary
Director Craig H. Weber filed a Form 144 to sell 26,100 shares of Optical Cable Corp, valued at $601,344, signaling a potential reduction in insider holdings.
Key Events
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Director Files Intent to Sell Shares
Craig H. Weber, a Director, filed a Form 144 indicating an intent to sell 26,100 shares of common stock.
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Significant Value
The proposed sale is valued at approximately $601,344, representing about 0.30% of the company's outstanding shares.
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Acquisition History
The shares intended for sale were acquired through open market purchases between March and June 2011.
Analysis
Director Craig H. Weber has filed a Form 144 indicating an intent to sell 26,100 shares of Optical Cable Corp common stock, valued at approximately $601,344. This proposed sale represents about 0.30% of the company's outstanding shares. While not an immediate sale, it signals a director's intention to reduce their holdings, which can be interpreted negatively by the market, especially following recent positive financial reports.
At the time of this filing, OCC was trading at $22.58 on NASDAQ in the Manufacturing sector, with a market capitalization of approximately $199.3M. The 52-week trading range was $2.60 to $27.98. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.