Leininger Sells More Stock
Republican megadonor James Leininger continues to unload the stock in Kinetic Concepts, the San Antonio-based medical supplies company he founded. On July 28, the Houston Chronicle reported that Leininger, a director of the company, sold 153,300 shares at prices between $63.01 and $64.04, a pretax haul of between $9.67 and $9.83 million. Today, AP says Leininger sold 66,300 shares at prices between $62.14 and $63.44, cashing in for somewhere between $4.1 and $4.2 million. The current price (11:17 a.m.) for KCI stock on the New York Stock Exchage is $60.97, down $1.09. Insider selling frequently drives down the price of a stock. Leininger sold near the 52-week high of $66.77, a figure that is approximately three times the 52-week low of $22.50.
If you add the two sales together, Leininger has between $13.7 and $14 million that he can reinvest in the next election cycle.