Mikie Sherrill Continues to Sell UBS After Massive Rally
Mikie Sherrill, an American politician who currently serves as the U.S. Representative for New Jersey's 11th congressional district, continued her large sales of UBS Group AG (UBS:US) in March, disclosing a massive $250,001 - $500,000 sale on March 03, 2023, when the closing price was $22.12. Within a week, she’s already in the money as the stock has dropped slightly.
Why such a large sale? Well, it’s clearly something Ms.Sherrill has been doing for a while. On March 09, 2022 and May 23, 2022 she did similar trade sizes, selling between $100,001 - $250,000 in two separate transactions. With the stock up over 37% in the last year and already 15.5% year-to-date according to finviz, it’s possible Ms.Sherrill wanted to lock in some major gains on the stock.
What are the analysts saying? The most recent update from Credit Suisse back on December 09, 2022, downgraded the stock from an Outperform to a Neutral. It’s hard to talk bad about the stock too much, but with it trading near its 52 week high, perhaps the run has come too far and it’s time to take some chips off the table.
Before entering politics, Mikie Sherrill had a distinguished career in the United States Navy and served as a federal prosecutor. Sherrill graduated from the United States Naval Academy and later earned a law degree from Georgetown University. She was elected to Congress in 2018, becoming the first Democrat to represent her district in over three decades. Sherrill is known for her advocacy of healthcare reform, gun control measures, and environmental protection.
