CIMIC controlling share holders might be waiting for a) balance sheet to fix itself up (still neglible net assets relative to share price) b) cash flow conversion to become better (cash flow conversion still poor).
Whilst a) and b) exist, share price has high chance of meandering downwards on lack of buyers support.
So insiders wait so they can pick it up cheaper later. I would if I was in their position.
CIM Price at posting:
$15.59 Sentiment: None Disclosure: Held
