A dark pool trade was detected in TOL stock on September 25, 2020.
Make sure to review this lesson on dark pool trading so that you understand the chart above.
On September 25, 2020, in a regulatory filing, Toll Brothers disclosed that its CFO Martin Connor sold 10K shares of common stock on September 25th in a total transaction size of $480K. The holding represents about 17% of his total owned.
I’m wondering if the dark pool trade had anything to do with this insider sell in that a large player wanted to take a position in TOL stock, and Mr. Connor helped facilitate that by selling a big block of his shares to the entity?
On September 22, 2020, Toll Brothers, Inc. (NYSE:TOL), the nation’s leading builder of luxury homes, announced that its Board of Directors has approved a quarterly cash dividend to shareholders. The dividend of $0.11 per share will be paid on October 23, 2020, to shareholders of record on the close of business on October 9, 2020.
On September 21, 2020, Toll Brothers announced preliminary results regarding the Company’s fourth quarter-to-date net signed new home contracts. Midway through the Company’s FY 2020 fourth quarter, from August 1 through September 15, 2020, the Company’s net signed contracts increased 110% year-over-year to 1,678 homes, compared with 800 homes for the same period in FY 2019.
Average monthly per-community demand increased 114% over the same period to 3.6 contracts-per-community from 1.7 one year earlier.
Douglas Yearley, Jr., chairman and CEO, stated: “The strong demand in our third quarter has continued into mid-September of our fourth quarter throughout our twenty-four states and across our product lines and price points. We continue to raise prices to manage the pace of growth, offset rising costs, and maximize profitability. We attribute the accelerated buyer demand to a number of factors, including historically low-interest rates, a continued undersupply of homes, and a growing desire for a home that can be personalized for today’s evolving lifestyles. Our luxury build-to-order business model is ideally suited to meet these trends. With our diversified product lines and well-located land, we believe we are positioned for growth in FY 2021, assuming market fundamentals remain favorable.”