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The Company is a regional grocery distributor and grocery retailer, operating principally in Michigan, Ohio and Indiana.
Spartan CEO recently dumped a fair amount of shares. The stock is due to fall, as demonstrated by effective technical analysis. Valuation places the stock price between $20-21 per share, meaning there is little or no growth potential.
I live in west Michigan. Spartan is buying up small local chains aggressively. With their size, this should add to EPS. This is a completely new management from several years ago.Recent run up has been contributed by SPTN's addition to the S/P 600 small cap index. From a consumer point of view, my wife says that the Spartan Family Fair stores have prices that compare to Meijers (large Michigan Ohio box store like HEP's for you folks from Texas). Currently would recommend buy on dips, have a limit buy order at $24.10 in my portfolio.
the ceo dumped stock b/4 the stock took off beyond 23 and will goo to 36 or 37 b/4 settling down,....
Yea, good call on the buy. Haha.
My guess is that he dumped stock because some options came due. I wouldn't be too worried with the CEO's move and instead think focus should be placed on the actions of the overall company. This is a great company and is definitely worth more than the current stock price is stating.
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