Sothebys (BID) Files Form 4 Insider Buying : Harry James Wilson Buys 5,000 Shares

Sothebys (BID): Harry James Wilson , director of Sothebys purchased 5,000 shares on Jun 1, 2016. The Insider buying transaction was reported by the company on Jun 2, 2016 to the Securities and Exchange Commission. The shares were purchased at $30.16 per share for a total value of $151,421.45 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Jun 1, 2016, Olivier Reza (director) purchased 10,000 shares at $30.00 per share price.On May 19, 2016, Dennis M Weibling (director) purchased 4,000 shares at $27.89 per share price.Also, On May 16, 2016, Michael F Goss (CFO) purchased 50,000 shares at $27.70 per share price.On Feb 3, 2016, Jonathan Olsoff (General Counsel) purchased 2,155 shares at $23.13 per share price.

Sothebys: On Wednesday, Jun 1, 2016 heightened volatility was witnessed in Sothebys which led to swings in the share price. The shares opened for trading at $29.63 and hit $30.07 on the upside , eventually ending the session at $29.99, with a gain of 0.30% or 0.09 points. The heightened volatility saw the trading volume jump to 8,98,417 shares. The 52-week high of the share price is $47.28 and the company has a market cap of $1,756 M . The 52-week low of the share price is at $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.

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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