Insider Selling: Newcastle Investment Corp. CEO Kenneth M. Riis Sells 99,942 Shares of Stock (NCT)
Newcastle Investment Corp. (NYSE:NCT) CEO Kenneth M. Riis sold 99,942 shares of the company’s stock in a transaction that occurred on Thursday, August 28th. The shares were sold at an average price of $13.44, for a total transaction of $1,343,220.48. Following the transaction, the chief executive officer now directly owns 179,501 shares of the company’s stock, valued at approximately $2,412,493. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Shares of Newcastle Investment Corp. (NYSE:NCT) traded up 1.04% during mid-day trading on Friday, hitting $13.55. 1,777,882 shares of the company’s stock traded hands. Newcastle Investment Corp. has a 52-week low of $12.99 and a 52-week high of $15.42. The stock’s 50-day moving average is $13.72 and its 200-day moving average is $14.04. The company has a market cap of $1.589 billion and a P/E ratio of 16.37.
Newcastle Investment Corp. (NYSE:NCT) last posted its quarterly earnings results on Thursday, August 7th. The company reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.10 by $0.01. The company had revenue of $29.90 million for the quarter, compared to the consensus estimate of $47.32 million. During the same quarter last year, the company posted $0.16 earnings per share. Newcastle Investment Corp.’s revenue was down 52.4% compared to the same quarter last year.
Newcastle Investment Corp. (NYSE:NCT) is a real estate investment and finance company.
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