Cava Group shares fall as insiders push to sell By Investing.com

Cava Group shares fell 8% in pre-market trading on Tuesday.

The drop comes after filings revealed that the Mediterranean restaurant chain’s largest individual shareholder and a group of executives plan to sell a significant number of shares. Artal International SCA, the main shareholder, registered to sell 6 million shares.

The documents also revealed that several Cava Group executives are preparing to offload shares. CEO Brett Schulman is set to sell 201,504 shares, while CFO Tricia Tolivar and a trust associated with board member David Bosserman each plan to sell 5,000 shares.

Additionally, board member James White has applied to sell 1,500 shares, and Chief Concept Officer and co-founder Theodoros Xenohristos is looking to sell 98,490 shares.

Prior to this development, Cava Group shares were on an upward trajectory, ending Monday with a gain of 3.1%, hitting a new record high. The company’s stock has seen a sharp rise this year, rising 193% through Monday’s close.

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