On June 13th 2014 we looked back at the state of Games Workshop stock price and general health. Watching stocks over the short term is often an experiment in futility. In the last report GW had almost completely crawled its way out of the huge January drop.
Over the course of that last 30 days the stock has dipped once again. There doesn't seem to be much cause for the drop if you base it on any financial releases.
Here is where the stock stands now since the "Great Crash".
Last month at this time GW stock was only down about 9% overall, now it is down %14 for the year. This reversal is only explainable if you consider the recent dividend payout. The drop looks to be nothing more than profit taking by some investors. These investors might think it is best to take the dividend money and sell some stock to hedge bets against the short-term health of the company.
Kirby has already warned investors not to expect a turn around until next year, so this doesn't come as much of surprise to have investors selling off after the dividend. Another reason for some drop is GW voting rights announcement from July 1
As at the date of this announcement the Company had 31,860,238 issued ordinary shares of 5 pence each admitted to trading. Each ordinary share carries the right to one vote in relation to all circumstances at general meetings of the Company. The Company does not hold any ordinary shares in Treasury.
The above figure may be used by shareholders and others with notification obligations as their denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the Disclosure and Transparency Rules.
This might have some investors not wanting to disclose certain things. It is clear though the trend for the last month has been downward.
As you can see a 9% decline in one month!
Funny, GW did announce at least one person doubling down on some GW stock!
The Company was informed today that on 4 July 2014 Kevin Rountree, Chief Operating Officer of Games Workshop, acquired 396 ordinary shares of 5 pence each (“Ordinary Shares”) in the Company under the Company’s dividend reinvestment plan at a price of 614 pence per share.
The aggregate holding of Mr Rountree, has therefore increased to 12,670 Ordinary Shares, representing approximately 0.04 per cent. of the issued ordinary share capital of the Company
You go with your bad self Mr. Rountree!
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