Bert sells more Betfair shares
With Betfair shares now approaching £10.55, seemingly a bit ahead of current events. Andrew Black, founder of Betfair, sold another tranche of shares yesterday. The sale amounted to 600k of shares somewhere over £6m in total. This sales leaves Bert with just over 4m shares down from 10.5m back on 14th November 2011. So Bert has reduced his holding by over 60% in less than two years.
Shares hit a low of £6.50 this year before running up on a the prospect of bid (Richard Koch is selling too) and then the current run up. But if you look at the median broker forecasts they are projecting 2015 profitability at a similar level to 2012 and turnover up a fraction. If that’s correct then the shares would seem to be a little ahead of themselves at the moment.
Category: Betfair
