"Mudd was NOT the last to sell".Yes, hypothesising without...

"Mudd was NOT the last to sell".
Yes, hypothesising without evidence is annoying. I thought he, or you may have had some inkling of directors selling, presumably not as you have not qualified your statement, or was it a simple and uncorrected error? Do you have any evidence of a director selling since Mudd sold?

JLG has produced very impressive growth and the PE has climbed accordingly. This means that many investors consider it too expensive. They have also been issuing shares to do deals so perhaps those recipients have preferred converting the shares to cash.