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K-Swiss Inc. (KSWS) Message Board

  • lecgoc lecgoc Jun 16, 1999 11:20 AM Flag

    Insider selling

    Fact. On May 27, 1999, management owned more than
    12 percent of the float (shares available to be
    traded). By June 11, 1999 (just 13 calendar days, not
    trading days later) management alone, not all insiders,
    had sold more than 5 percent of the total float. WOW!
    that is a huge percentage for such a small company. Of
    all shares sold by management, only 2 percent of
    those shares were bought by institutions (i.e. banks,
    funds, etc.). I think that it is curious why all of
    management is selling at once collectively. Again, these
    numbers are not counting all insiders, just management
    alone. I can see selling into good news which is what
    you have to do when you have such a large postition
    in a thinly traded stock. Still I have to wonder why
    all of management is running for the door at once? It
    is like at the last board meeting soemone screamed
    "FIRE!" I think this stock has some more room on the down
    side. With the overall market the way it is, even
    though it is currently zooming up, I think that we are
    still sliding on a slippery slope. Sooner or later we
    will get some traction (with our well made and
    comfortable K-swiss shoes on of course!), but, we don't know
    when that will be. I have a "Gut Feeling" buy order in
    for $33 which is just below the bottom channel line
    for this stock. My gut feeling next top will be at
    around 75ish. Hopefully I am wrong about that bottom and
    the stock will keep bouncing off it's 50 day moving
    average until it can sustain and re-establish it's upward
    trend once again. Either way, I will be there for the
    ride! Good day to all. Keep the interesting posts
    coming.

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    • See below (from Market Watch). If you do the
      math, there are just a million or 2 Cl A shares in
      float, give or take 10-20% and not including any recent
      insider sales). ANY selling without buyers will drive the
      price down, just like ANY buying without willing
      sellers drives the price skyward. ... it's an emotional
      rollercoaster with these nano-small floats.
      BUT: Note: mgmt
      owns 94% of the class B shares! 94%. So, if insiders
      want to put some Cl A back on the market and some cash
      in their pocket, it doesn't look worrysome.


      """ Equity: Cl. A Com. $.01 Par, 3/99, 18M auth.,
      10,222,648 issd., less 2,638,932 shares in Treas. @ cost.
      Insiders own 13%. John Hancock Mutual owns 13%. 4 others
      own 39%. P/O: 6/93, 1.3M Cl. A shares @ $24.58 by
      Goldman Sachs.
      Cl. B Com., $.01 Par, 10M auth.,
      3,426,556 issd. Insiders own 94%. (As of 12/98) STD: $155K
      @ 8.5%(wgt.avg); LTD: $500K @ 10%.
      Analyst
      Footnotes: 3/99, 2-for-1 stock split (Class A & B). From
      10/1/96 - 10/21/96, K-Swiss repurchased 402K shares of
      Common Stock."""

      Much more important is, "how's
      the order pipeline?" ... So: Did you buy your K-Swiss
      shoes yet????

    • Could it be that some kind of restriction against
      selling was recently lifted? Sometimes companies don't
      allow selling for certain periods of time then when
      that ban is lifted you will see a large amount of
      selling like this. IMHO this is not the type of
      management that would jump ship at the expense of
      shareholders.

 

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