Which is how we know that insider selling continues at Trans-Tasman juggernaut, A2 Milk Company.
On February 28 (a week after the February 21 trade), A2’s Asia Pacific chief Peter Nathan netted NZ$8.9 million ($8.5 million) selling 600,000 ordinary shares at $14.75 a pop. The shares listed at 56¢ not even four years ago. In. The. Money.
Also from February 21, chief marketing officer Susan Massasso offloaded 400,000 shares in four trades for total proceeds of NZ$5.9 million. On February 25, chief operations officer Shareef Khan sold all 34,283 A2 shares in his name (he retains another 200,000 jointly with his wife) and came away with NZ$501,328.
Also on February 21, A2’s recently departed UK and Europe boss John Wotherspoon sold 160,000 ordinary shares worth for a total consideration of NZ$2.3 million.
This mob isn’t waiting for Christmas in July. But it begs the question, if a good chunk of its executive management is selling, and selling big, why on earth should retail or professional investors be buying?
Source: Financial Review
