Non-residential construction business JLG rallied +2.6% on Thursday for no major reason, perhaps we just saw some book squaring/bottom picking ahead of their result on the 29th. The builder delivered a poor quality upgrade in late June.
As we mentioned in yesterday’s Match Out Report Johns Lyng Group (JLG) fell almost -15% on Monday after their influential CEO sold 7.5% of his holding to fund a new house in Colorado and tax liabilities. Unfortunately they also reconfirmed FY23 revenue & EBITDA guidance which was around 5% below market expectations – i.e. an awful combination of insider selling shares...
JLG is a Victorian-based non-residential construction business that was looking good earlier in the year but this $1.6bn business has subsequently been hammered since the CEO and COO started selling shares in May although we would add that both directors retain significant holdings in the business.
Johns Lyng Group (JLG) provides non-residential construction services. The Company offers construction, building, and support services, as well as software products, home maintenance, and call center services. Johns Lyng Group serves clients in Australia.
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