Why would director Wesley Edens buy close to 125,000 shares and 5 days later turn around and sell 11 million shares? Did he think his little buying spree would bump up the value when word got out the insiders were buying? Can anyone offer a different explaination? If not is this a leagel practice?
Nice explanation -- I learned something. I like that fortress - which is a hedge fund sold their interest. Hedge funds are short time owners as opposed to companies like fidelity. That probably explains a little of the softness in the stock - the short term funds getting out to move into their new areas.
You have to go back and read the recent headlines. Fortress Investment Group sold the shares and because I believe he is a director or sits on the board, his name also gets listed as selling those shares.