There was contrasting trading action by insiders in two related companies this past week with National Commercial Bank, that owns roughly 30 percent of JMMB, advising that a related party purchased 6,000,000 of the bank’s shares on March 6, 2014 while Jamaica Money Market Brokers (JMMB) advised that a connected party sold 1,500,000 of its shares on March 4, 2014.
In the latest quarterly reports to December quarter last year, NCB profits grew to $2.86 billion from $2.79 billion while JMMB net profit grew to $752 million from $642 the year before.
Additionally, Jamaica Money Market Brokers advised that a Director sold 31,146 of the company’s shares on March 11, 2014.
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[…] this is not the only sale of large amounts in recent times as a connected party sold 1,500,000 of the shares on March 4, 2014. A Director sold a relatively small amount of 31,146 JMMB […]