Small Investors Push Down CACI Stock
- By Nick Wakeman
- Jul 24, 2001
A spate of selling by small investors has pushed down CACI International Inc.'s stock from $44.04 a share July 19 to $34.90 July 24.
The sharp drop prompted the Arlington, Va.-based company to issue a statement that there are no undisclosed corporate developments to explain the stock activity.
Many of the sales of the stock were traded in blocks of 100 shares, said Thomas Meagher, vice president of equity research for the investment bank BB&T Capital Markets Inc. of Richmond, Va.
Blocks that small indicate individual traders are at work, and not institutional investors, who generally trade in blocks of 10,000 shares, he said.
"This is a bunch of small guys trading 100 shares at a time," Meagher said. "I'm not reading too much into it. If anything, it is creating a buying opportunity."
CACI is schedule to announced its fourth quarter results Aug. 16.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.