Carl Icahn Offloads 1million WebMD Shares

Insider trading at WebMD (NASDAQ:WBMD) assumed gigantic proportions. A very important addition to insider trades at WebMD health corp was the offloading of a large number of shares by two ‘BIG’ Investors. Kensico Capital Management Corp, a 10% owner in the company offloaded 572,301 shares of the WBMD stock for a total sale value of $19.5 million. This adds to the insiders at the company disposing off 256,016 shares for $8.70 million on the same date. If this doesn't convince you of the price movement ahead, just hold on until we add another name to the list of insider sellers at the company. Carl Icahn, the famous investor, offloaded over 1.1 million shares of the company’s stock to pocket a cool $38.9 million.  The sale value was close to 18% of Carl Icahn’s total holding in the company, which is currently more than 10% of the company. The total value of insider trades at the company on Sep 17th totaled $65.84 million following these two transactions, representing close to 5% of the company’s current market cap. WebMD stock price fell by 1.3% in yesterday’s trading session closing the day at a price of $30.81.

Continuing the insider selling for the day Blue Nile director Mark Vadon yesterday sold a total of 27400 shares of the company’s stock at an average price of $38.71, for a total transaction value of over $1 million. Following the transaction the director currently holds 130,768 shares of the company’s stock. Mark Vadon had earlier disposed over 100,000 shares of the company’s stock in the month of August totaling a dollar value of $3.8 million.

To see WebMD’s latest stock price movement, click here WebMD (NASDAQ:WBMD)

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Virendra Singh Chauhan Virendra Singh Chauhan   on Amigobulls :

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