CBL President LEBOVITZ sells 42,627 shares for $1,103,034.82 across two days; reduces holdings by -49.1%
Michael I. LEBOVITZ, CBL's President, executed two separate sales on 2024-08-15 and 2024-08-16, selling 29,045 shares at $25.91 and 13,582 shares at $25.81, respectively, for a combined total of 42,627 shares worth $1,103,034.82 at a blended average price of $25.88. This transaction cuts his holdings nearly in half, from 86,799 shares pre-transaction to 44,172 shares post-transaction, representing a -49.1% reduction in his stake. The stock trades at $25.94 currently, near its 52-week high of $26.24, while the company faces headwinds with annual revenue declining -4.9% year-over-year and a high P/E of 27.60 relative to net income of $4.7M on $129.7M in quarterly revenue. The substantial liquidation of one-half his position warrants close monitoring of his forward guidance and any disclosed reasons for the sale.