Jefferies (JEF) CEO Handler Sells Over 14% of His Stake
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Price: $52.09 -0.71%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.3%
Revenue Growth %: +1.5%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 3.3%
Revenue Growth %: +1.5%
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Shares of Jefferies Group Inc. (NYSE: JEF) are trading up slightly higher than they were at 1:30 when the company announced that it it’s CEO, Richard Handler, sold a large stake of the company to Leucadia National Corp. (NYSE: LUK).
The size of the stake was $25.2 million and brings the total amount of which Leucadia owns of Jefferies to 28 percent. Leucadia National acquired 2 million shares of efferies at $12.58 per share and is Jefferies largest stockholder with 56.5 million shares. Mr. Handler now owns 12 million shares of Jefferies.
On the news, shares of Jefferies fell to roughly 5.5 percent, but since then have moved up slightly. Jefferies are currently trading down 4.2 percent to $12.43.
In a memo to his employees, Mr. Handler stated that it wasn’t his original plan to sell any more of its interest in the firm, but commented, “Being out of debt is the prudent thing for me and my family in a turbulent world."
The size of the stake was $25.2 million and brings the total amount of which Leucadia owns of Jefferies to 28 percent. Leucadia National acquired 2 million shares of efferies at $12.58 per share and is Jefferies largest stockholder with 56.5 million shares. Mr. Handler now owns 12 million shares of Jefferies.
On the news, shares of Jefferies fell to roughly 5.5 percent, but since then have moved up slightly. Jefferies are currently trading down 4.2 percent to $12.43.
In a memo to his employees, Mr. Handler stated that it wasn’t his original plan to sell any more of its interest in the firm, but commented, “Being out of debt is the prudent thing for me and my family in a turbulent world."
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