More ACC Insider Selling
I’ll be honest - it’s been difficult to stay motivated to write anything about American Campus Communities. This company is such a joke that only an idiot could study it for more than a few hours and not conclude it is worthless. I am only playing the waiting game now. I’m just waiting for the market to realize it is a huge scam. I know there is no volume. The silence is deafening. The buyer’s have all dried up. Who will be the last one holding the bag? ….Not the insiders!
Here is a screengrab of the recent insider selling that I told you would occur in my last post titled “American Campus Communities & the Inevitable Dividend Cut“:
CLICK TO ENLARGE
If the whole ACC gang is selling at $17.12, I am certainly a seller at $19.12 (today’s closing price). Then again, I wouldn’t hold on to this stock if it was $2.
April 7th, 2009 at 7:10 am
“This company is such a joke that only an idiot could study it” — There are over 10 analyst from the biggest banks in the world with either a Buy or Hold and a NAV around $25. Why would you say its worth $2. (Refer to the quotes above.) This article is about the insider transactions and how that is a tell-all about what is going on….Again I am going to refer to the quote above; why don’t you pull the SEC filings, then look at the transaction code, (which is “F”) and then google search what it means when there is an F in that box. Never mind don’t google it I will just tell you. It means that they are taking some of there stock and using it to pay there tax liability now and in the future. $17.12 just happened to be the day in which the transaction took place. I think you should think long and hard about the quote above and stop trying to cover your ass becuase you shorted the wrong stock. I hope you find another company to try and convince the other unintelligent people out there “or idiots” to short because I am sick of seeing your ACC articles pop up on google.
- From a guy tired of you
April 7th, 2009 at 8:00 am
I know what the code means…do you? Remember that “F” means that the payment was “incident to the receipt, exercise or vesting”. Why do you surrender for taxes if you don’t realize gain on some portion of exercise?
I know you work for ACC and I suppose you feel I am attacking your company. I am but I have nothing personal against you. The truth is that the stock is overvalued. Your management team bought assets at overvalued prices. I didnt force them to do that and neither did anyone else. If you are mad at someone, be mad at them. The stock is being artificially propped up but it can go on forever. When earnings come out and the bear market rally ends, I expect this to tank. If it does not happen this quarter, it will happen eventually.
If you think I’m the only person bearish on your company, you are sorely mistaken. Reggie Middleton, a blogger who called GGP’s failure, is also calling ACC’s demise. Sorry, it’s just math. The math says ACC is eventually done.
Be smart. If I held any ACC, I would sell. That’s the optimal move.
Good Luck.
April 9th, 2009 at 2:35 pm
Key word is “receipt” as in stock compensation receipt, “form must be filed before the end of the second business day follwoing the day in which a transaction resulting in a change in beneficial ownership has been executed” Change being the reciept of additional ownership that result from stock compensation payouts. Code F pledges certain amount of shares to be held for tax liability purposes. I think if you got paid in stock you would rather pledge shares rather than pay cash later when you do sell. Up 11% or $2.02 today to $20.26. How’s that short working out?