CETV: CEO continues to sell shares, guidance for ad markets growth maintained for 2011

CETV (339,5 CZK, -0,90%) CEO Adrian Sarbu sold 50,000 shares on June 7 at the price 20.92 USD/share. “It represents only 2% of CEO’s stake in the company. Given the size, it should not have any significant impact on the stock, so we consider the news Slightly negative,” Tomáš Tomčány from Patria Finance says.

In an interview for WorldScreen, CEO Sarbu confirmed that he expects all the ad markets, in which the company operates, to grow this year. Thereby he maintained his guidance for year-on-year growth and said that the recovery depends on how advertisers will react to the expected GDP growth (expected to be 3.2% in the CEE region this year). “The news is Neutral as Sarbu only reiterated what he said lastly. We expect mid-single digit average growth of CETV’s ad markets,” Tomáš Tomčány says.