Rear Window
Jamie Pherous forgoes $100k, Corporate Travel hits guidance
Joe AstonColumnistJust after noon on Friday, a block of 1 million Corporate Travel Management shares – equivalent to 1.4 per cent of free float – changed hands at $17.75 a pop, a 2.8 per cent discount to the open. The institutional trade was handled by Brisbane broker Morgans; so much for its analyst Belinda Moore’s $23.40 price target (down from $27.50, down from $31.65…).
In a somewhat open field, the seller is most likely Bennelong (with 8.2 million shares) or Hyperion (5.7 million). Our money’s on the former. Hyperion has the longest fingernails on the street (no, that’s not a compliment) and only Mark East – a man who runs topless down Macquarie Street – has the swagger to aggressively hate-sell at a discount to the market price. And he’s got seven million more where they came from.
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