At first, during the beginning of the year, the price was pushed down by sales from the Säästöpankki Small Cap fund. Now, apparently in late summer, similar price-insensitive selling has been started by the OP Small Cap fund. Very typical OP “asset management” — buy high, sell at the bottom. Proprius loaded up more heavily in the spring, but it’s been quiet on the fund buying front since then.
Of course, we haven’t seen any buybacks from the company either, let alone insider purchases, which would provide the much-needed positive signal as the YTD is showing a rather dismal -60% figure. I’ve been waiting to see when Inderes’ analyst @Olli_Nokso-Koivisto remembers to ask about these, maybe in the next interview?
You would think that at these price levels, it would make sense for both to happen if the insiders have any confidence in the company’s future. However, revenue is set to rise to a record level next year due to acquisitions, while the share price is comfortably at an ATL.
Would it be time to finally get some bottom-line results after years of acquisition sprees, @Olli_Nokso-Koivisto? That way, trust in the company could gradually be restored in the eyes of the funds as well.