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Kinder Morgan Management LLC Message Board

leviticus1935 4 posts  |  Last Activity: Jun 11, 2014 10:18 PM Member since: Jan 12, 2005
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  • Reply to

    Sharp Decline

    by leviticus1935 Jun 11, 2014 11:51 AM
    leviticus1935 leviticus1935 Jun 11, 2014 10:18 PM Flag

    Looks like the recent sales by Hall and Simmons have reduced the percent of shares owned by insiders to under 30 percent which may be low enough for Russell to include CLCT in the index - 70 percent of the $185 million market cap is still a healthy $ 130 million or so in public hands. And insiders will probably continue to sell as they diversify their holdings into other assets.

  • Reply to

    Sharp Decline

    by leviticus1935 Jun 11, 2014 11:51 AM
    leviticus1935 leviticus1935 Jun 11, 2014 6:53 PM Flag

    Please note that, aside from market cap, Russell does look at other factors, among them:

    [from the Russell website]

    Adjust shares outstanding for cross ownership and privately held shares to reflect shares available for trading.

    So in an ironic way, the recent sales by David Hall and Van Simmons may help convince Russell that there are enough CLCT shares in public hands for index trading.

  • leviticus1935 by leviticus1935 Jun 11, 2014 11:51 AM Flag

    This decline is one relatively light volume. The Russell 2000 Index rebalancing announcement - will CLCT be included in the index? - is after the close of this Friday's trading. Today's decline might be an attempt by short sellers to cover some of their position before next week. Of course we outside shareholders have no idea what is really going on.

  • Reply to

    Insider Sales

    by leviticus1935 May 26, 2014 10:54 AM
    leviticus1935 leviticus1935 May 28, 2014 12:01 PM Flag

    Perhaps another (less important) reason for the insider selling is to bring down the insider holdings/increase the trading float which Russell looks at when deciding whether to include a stock in their 2000 Index.

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