Central European Media Enterprises Shares Plunged: What You Need to Know
Although we don't believe in timing the market or panicking over market movements, we do like to keep an eye on big changes -- just in case they're material to our investing thesis.
What: Shares of Central European Media Enterprises (NAS: CETV) fell 15% today after its CEO had sold shares of the company's stock.
So what: CEO Adrian Sarbu sold 9,433 shares on Wednesday of last week at $17.62 according to an SEC filing. Insider selling is often a bad sign for a stock but with the market plummeting today the sell-off was probably exaggerated by Sarbu's sale.
Now what: Even after the sale, Sarbu directly owns 602,000 shares of CETV, so this was really a drop in the bucket. The market has been looking for any reason to sell-off a stock and it found it this morning. I wouldn't be too concerned about the move today and don't see this insider sale as a reason to dump the stock.
Interested in more info on Central European Media Enterprises? Add it to your watchlist.
At the time this article was published Fool contributor Travis Hoium does not have a position in any company mentioned. You can follow Travis on Twitter at @FlushDrawFool, check out his personal stock holdings or follow his CAPS picks at TMFFlushDraw.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2011 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.