360,000 shares (!) at $13, 14, 15 in the last month? Directors selling by the boatload. 16% of the float unloaded in the last quarter?
C'mon folks, I like a party as much as the next guy, but at $15.76, the guys who are running the company - whose shares have risen 400% since October - are saying that they like what they see here and now and are taking piles of dough off the table, a HUGE amount of money. From a 10 year low to a 5 year high in a single phenomenal stretch; there is no shame in ringing the register.
At this point, I think the better money is in KBH, who may just "pull a Pulte" over the next 6 months. That is what happened in the early 1990s when KB was again late to the party.
I am going to help you out a little, go to the insider transactions on the Yahoo Finance for PHM, you will see most of the sales preceded by an exercise of options. Take those out of the picture and you will see that the majority of all the other transactions were acquisition of shares! So take the options out and insiders are actually buying PHM!
I hope this puts an end to all of you that are posting the insider sales of PHM! Try doing some research!
Good points. But do they have the option to hold them longer if they thought the stock was going higher? And too, if the tax law sunsets in January, 2013 - isn't it better to sell out of stocks this year at the lower cap gains rate? If the cap gains rate is raised, could have a big effect on the 2012 market sales.
When an executive exercise an option lets say at $5 and the price of the stock at that exercise date is $15, that executive needs to pay in estimated tax on $10. So many of these executives that get these options as bonuses, need to sell part of them to pay the tax withholdings. Just as simple as that and it happens every year. So do your research to understand the whole picture such as earnings, financial statement, balance sheet, current sales, future sales, etc..... and then figure out just why the insiders are selling. Otherwise give up on this line to justify shorting.
Heard this before. Just an execuse to sell and at the same time try to make you not sell so they can get out at a good price. It was funny hearing someone who worked for Company X before, one worker was trying to execise his sell before another worker.