Sunday, November 30, 2008

So who dumped Parkway Properties?



RIGHT before close Friday (12:59 PM), someone dumped over 94.000 shares of Parkway Properties stock, driving it down over a dollar a share, closing at $13.67. The high for Friday was $16.21 (This chart is interactive and is where I found the 94,000 figure, which does not appear in the above chart): http://finance.yahoo.com/echarts?s=PKY#symbol=PKY;range=1d
Last week, JJ reported Parkway Properties cut its dividend in half from $2.60 to $1.30 a share and also that its share price dropped over 50% in October in an earlier post. At the same time the dividend cut was reported, Wyatt Emmerich penned an editorial in his newspaper, The Northside Sun, praising Leland Speed, the titan of Parkway and the construction in downtown Jackson as will as future projects. Is it a coincidence it was published at the same time there was a dividend cut?

However, back to the issue of Friday's trading of Parkway Properties stock. What exactly was going on?

Posted by Kingfish at 8:53 AM
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3 comments:

Anonymous said...

Not unusual - probably a mutual fund.

November 30, 2008 at 5:30 PM
Anonymous said...

Mutual funds trade at the end of the day. That makes sense with that number of shares.

December 1, 2008 at 4:44 AM
Kingfish said...

Cool. I got several emails on this so I thought i would throw it out there.

December 1, 2008 at 7:28 AM

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If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

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