Thursday, December 10, 2009

Gartner Hit on Secondary (IT)

Gartner Inc. (NYSE: IT) is not your usual pre-market mover.  At 8:29 AM EST we have shares trading down 6.7% at $17.10 after a $18.34 close Wednesday.  The company has a secondary offering coming of 8 million shares being sold by Silver Lake.  None of the proceeds from the sale by Silver Lake will go to Gartner.  We have yet to see a pricing in SEC filings but that will price either this morning or tonight.  The 52-week range is $8.33 to $20.27 and the average daily volume is only 330,000 shares.


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