Earl Wayne Garrison, Chairman of J B Hunt Transport Services, Inc. (NASADAQ: JBHT), just disclosed in an SEC filing that he made a sale of common stock in the company. It wasn’t a small drop in the bucket either.
This filing shows that he sold 1.002 million shares at a net price of $28.25 on February 20, 2008. That’s over $28 million raised and was nearly one-seventh of his holdings. He still holds 6,337,028 shares of common stock directly, has 17,440 shares in a 401K plan, and has 12,000 in a family account.
That would explain the volume spike from Wednesday. Shares fell close to 2% that day and shares are down over 2% more since then. We’d note that shares are up more than $4.00 from the January 2008 lows, but still about 10% under the 52-week highs. Its 52-week trading range is $23.28 to $31.94, and the market cap is $3.53 Billion.
We don’t always cover insider selling and buying, but when you see sales of this size it is hard to ignore.
Jon C. Ogg
February 22, 2008
Find a Qualified Financial Advisor (Sponsor)
Finding a qualified financial advisor doesn’t have to be hard. SmartAsset’s free tool matches you with up to 3 fiduciary financial advisors in your area in 5 minutes. Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests. If you’re ready to be matched with local advisors that can help you achieve your financial goals, get started now.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
