(Photo Credit - Rob Hurson)
An insider at India Globalization Capital, Inc. (NYSE:IGC) submitted a Form 4 to the SEC for a recent sale of IGC shares, often considered to be a bearish signal for companies.
Officers and directors of publicly traded companies have the most complete picture of what is going on inside of their organization. Therefore, their transactions in their own company's stock becomes a useful signal for traders and investors to track.
Insider Selling by Executive Chairman and CEO
The Executive Chairman and CEO at India Globalization Capital, Inc., Mr. Ram Makunda, has filed a Statement of Changes in Beneficial Ownership (Form 4) with the SEC on November 3rd to report selling in IGC. Between October 18th and November 3rd, Makunda sold a total of 300,000 shares of IGC at a weighted average price per share of $0.4509 per share. As of the writing of this article, shares of IGC are trading slightly higher at $0.48 per share.
The sale amounted to an divestment of $135,277. Following the transactions, Makunda still beneficially owns 492,289 more shares of IGC.
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