Over the last month two insiders at Time Warner (TWX) decided it’s time to cash in some… well a lot of their company shares. The total insider sales over the last month at TWX reached $2.7M, which is difficult to attribute to the back to school season (not that I wasn’t shocked by the $80 I had to spend at Staples last week).
Not only that the total amount is large in itself, but what’s interesting is that both insiders are significantly reducing their holdings:
– Pascal Desroches (SVP and Controller) sold $203.05K reducing his holdings by 97%
– Frank Caufield (Director) sold $2.5M reducing his holdings by 49%.
Looks like these guys don’t believe that there’s much left to gain from the 29 bucks per share they got for their now significantly reduced holdings.