Robert Dickinson, a board member and former President and CEO of Carnival Cruise Lines at Carnival (CCL, 1793p) is using the recent bounce in the share price from a low of 1450p to sell down his holding in the Carnival and P&O cruise line business.
On June 24th he sold 18,000 shares at 1761p, realising £317,000.
On August 1st he sold 40,000 shares at 1864p, realising £715,000.
This leaves him with 160,000 shares in CCL.
Is Dickinson planning a cruise for his retirement, or does he think that the risks are on the downside for CCL ?
August 11th: Carnival announce that on August 8th Howard Frank, Vice Chairman and Chief operating Officer sold 66,000 shares at an average price of $ 39.6159 taking his holding in Carnival to 294,416 shares.
So now Frank and Dickinson between them have taken about $4.5m or £2 1/4m out of Carnival shares in the last 8 weeks. Not a positive indicator for the shares.
The ‘strength of signal’ derived from directors dealings moves from medium to STRONG.
I tend to concur with the Telegraph article of 29th June ‘Carnival shares no safe harbour’. Link to article here.
1 comment
Comments feed for this article
August 12, 2008 at 10:19 am
Carnival - second director sells raising $2.5m « followthedirectors… a study of directors share dealings
[…] further director selling. I believe this to be a significant negative indicator. Please go to this post for full details. STRENGTH OF DIRECTORS DEALINGS […]