Thanks to garycleaner for the snippet on Armadeus - good info!!
I have done some analysis following the snippet that Amadeus (AMU) sold a total of 13.9m shares during the Dec quarter (8.6m) and Jan (5.31m). See page 10 of their quarterly. Add this on to the Towner selling of 4.75m during the Dec quarter and that accounts for quite a chunk of the turnover of late. My analysis points to Bridges as the broker handling the Amadeus selling and, as stated in their quarterly, they had a remainder of 750,000 to go as at 31st Jan. I would suggest that these are probably now gone either yesterday/today.
The important thing to note is that Bridges were the stand out net seller of stock for the month of January as most other brokers were net buyers. The data shows that Bridges did not buy a single share although some January turnover is still anonymous (1.7m shares).
The end result of all this is that with Bridges and Armadeus out of the way any selling is likely to be met with buying from the other dominating brokers i.e. a lid is likely to have been lifted from the stock. This comes at a time where there is potentially some extremely exciting news flow.
Regards
Pihrana
NGE Price at posting:
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