Boston Beer Co Inc (NYSE:SAM), saw Chairman, Director, and 10% Owner James C. Kotch drop shares in the company’s common stock over the past few days. These disposals were completed in two sales, starting last Thursday, where the Director unloaded 4,000 shares at a range of $220.4 to $222.75 per share. On Friday, Kotch disposed of 4,000 more shares at a range of $220.5 to $224 per share. This is the latest string of sales from Kotch, who has continued to drop shares in the company throughout June.
Following the reported transactions, Kotch directly owns 74,032 shares, while indirectly owning 213,922 shares in Boston Beer Co Inc (NYSE:SAM).
In addition to Kotch, three major hedge funds have shown movement in their support of the $2.89 Billion market cap malt beverages company. Over the last quarter, Ken Fisher‘s Fisher Asset Management has decreased it’s activity by 19%, now owning 331,529 shares worth approximately $81 million; Jim Simon‘s Renaissance Technologies has raised it’s exposure by 69%, now holding 161,730 shares valued at around $39.5 million; while Mario Gabelli‘s Gamco Investors last reported owning 88,600 shares worth about $21.5 million after lowering it’s participation in Boston Beer Co Inc (NYSE:SAM) by 6% over the last quarter.
Disclosure: The author, Daniel Forstein, holds no positions in any stocks mentioned.