Home > Latest News > JB Hi Fi Group CEO & CFO Sell Shares Worth Millions

JB Hi Fi Group CEO & CFO Sell Shares Worth Millions

JB Hi-Fi boss Terry Smart has sold shares in the big CE retailer to the tune of $1.46 million.

Investors responded by sending the JB Hi-Fi share price into positive territory with the share climbing 2%.

Currently Smart is in Berlin at the European IFA trade show in Berlin.

The JB Hi-Fi share price has lost 10% since this time last year.

Also selling down his shareholding in JB Hi Fi was JB chief financial officer (CFO) Nick Wells who sold $1.36 million dollars’ worth of shares with the share now changing hands at $41.36.

The JB Hi-Fi Limited (ASX: JBH) share price is heading north on Tuesday.

Nick Wells Seen Left With Terry Smart

This comes despite the specialty retailer announcing that its CEO has dumped a substantial amount of his shares.

At the time of writing, JB Hi-Fi shares are swapping hands at $41.36 a share.

No reason has given for the share sell down. Currently, Smart has 8,925 JB Hi-Fi shares in his own name along with 119,723 shares held in a couple of trusts.

Wells has 44,493 indirect JB Hi-Fi shares under his holdings.

Analysts have responded with Citi raising its price target by 6.4% to $50.00 for JB Hi-Fi shares.

Based on the current share price, this implies an upside of roughly 21%.

UBS has also bumped up its price target by 4.8% to $44.00 per share.

JB Hi-Fi has a market capitalisation of approximately $4.43 billion, with 109.33 million shares on issue.



You may also like
Gerry Harvey Has Another Bout Of Verbal Diarrhea Bought On By Albanese Government Budget
Who Will Be The Winner Long Term, JB Hi Fi Or Harvey Norman?
EXCLUSIVE:Harvey Norman Tipped To Take On Loewe TVs
Kogan Back Spinning Yarns To Deflect From 28% Fall In Sales, Claims Business Is Now “Like Apple”
Despite JB Hi-Fi’s Optimisim, Suppliers Still Concerned