From Eureka report. Directors at retail giant Harvey Norman have been selling off scrip with gay abandon, with director John Slack-Smith letting go of a whopping 1,400,000 shares worth $6,041,760.72 on September 17. Matthew Ackery indirectly sold 350,000 shares on-market on September 17, for $1,507,205. At the end of last month, Harvey posted a 40.2% drop in profit for the full year, but said it remains cautiously optimistic on the outlook for the market. Broker’s earnings estimates remain for the retailer; however one has issued a downgrade on the stock, telling investors it is a pure valuation issue as it is time to take some profits off the table – which hopefully is all these directors are doing.
HVN Price at posting:
$4.19 Sentiment: Sell Disclosure: Held
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