Medifast (MED) Chairman's Wife Cashes In Over $1M In Stock
Down)
After the close, Medifast Inc. (NYSE: MED) shareholder, Shirley MacDonald, the wife of the Executive Chairman Bradley MacDonald disclosed the sale of 65,000 shares on 6/1 at $10.59, bringing her stake to 290,442 shares.
Yesterday, Mrs. MacDonald disclosed the sale of 40,960 shares on 5/29. Given the two recent sale disclosures, Mrs. MacDonald has unloaded 105,960 shares, or 27% of her holdings, over the past few days. Mrs. MacDonald has cashed in over $1 million from the sales.
The timing of the sale is somewhat alarming given the stock's 131% 3-month run-up and the personal relationship with the Chairman.
In a related note, shares of MED saw some volatile trading earlier today. Shares spiked down 12% early in the session, only to move up to close down only about 5%. Maybe some additional insider selling caused the spike down. Don't be suprised to see more insider filings.
Yesterday, Mrs. MacDonald disclosed the sale of 40,960 shares on 5/29. Given the two recent sale disclosures, Mrs. MacDonald has unloaded 105,960 shares, or 27% of her holdings, over the past few days. Mrs. MacDonald has cashed in over $1 million from the sales.
The timing of the sale is somewhat alarming given the stock's 131% 3-month run-up and the personal relationship with the Chairman.
In a related note, shares of MED saw some volatile trading earlier today. Shares spiked down 12% early in the session, only to move up to close down only about 5%. Maybe some additional insider selling caused the spike down. Don't be suprised to see more insider filings.
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