Sothebys (BID) Files Form 4 Insider Buying : Dennis M Weibling Buys 4,000 Shares

Sothebys (BID): Dennis M Weibling , director of Sothebys purchased 4,000 shares on May 13, 2016. The Insider buying transaction was reported by the company on May 16, 2016 to the Securities and Exchange Commission. The shares were purchased at $27.95 per share for a total value of $111,784.60 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 16, 2016, Olivier Reza (director) purchased 10,000 shares at $27.61 per share price.On May 16, 2016, Michael F Goss (CFO) purchased 50,000 shares at $27.70 per share price.Also, On May 12, 2016, Dennis M Weibling (director) purchased 4,000 shares at $27.52 per share price.On Feb 3, 2016, Jonathan Olsoff (General Counsel) purchased 2,155 shares at $23.13 per share price.

Shares of Sothebys (BID) ended Friday, May 13, 2016 session in red amid volatile trading. The shares closed down -0.65 points or -2.30% at $27.6 with 8,74,948 shares getting traded. Post opening the session at $27.97, the shares hit an intraday low of $27.55 and an intraday high of $28.63 and the price vacillated in this range throughout the day. The company has a market cap of $1,616 M and the number of outstanding shares has been calculated to be 5,85,55,146 shares. The 52-week high of Sothebys is $47.28 and the 52-week low is $18.86.

Sothebys Money Flow Index Chart

Company has been under the radar of several Street Analysts.Sothebys is Downgraded by Standpoint Research to Hold. Earlier the firm had a rating of Buy on the company shares. The Rating was issued on Apr 14, 2016.Sothebys is Downgraded by Barrington Research to Mkt Perform. Earlier the firm had a rating of Outperform on the company shares. The Rating was issued on Feb 26, 2016.

Sotheby’s is a global art business company. The Company operates in three segments: Agency Principal and Finance. The Company’s Agency segment accepts property on consignment stimulates buyer interest through professional marketing techniques and matches sellers (also known as consignors) to buyers through the auction or private sale process. The Company’s Principal segment is engaged in the sale of artworks that have been purchased by Sotheby’s including property acquired for sale at auction in the near term in lieu of the Agency segment providing an auction guarantee to a potential consignor. The Company’s Finance segment provides certain collectors and art dealers with financing secured by works of art that Sotheby’s either has in its possession or permits borrowers to possess.

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