With the individual volumes going through, this has got to be institutional holders. There would be a lot of behind the scenes bargaining before a single block trade of 3 million shares in a company this size. So yes, someone decided to exit a reasonable position. But someone else with a couple of mil to spend thinks mid 80s is a good entry. I tend to think the first person is probably sensibly taking profits on a conpany that has performed brilliantly for several years, while the second sees the growth ahead and is getting a position and expecting good returns. Interestingly, both investors are doing the right thing.
PGC Price at posting:
84.5¢ Sentiment: Buy Disclosure: Held
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