Over the past year, the International Consolidated Airlines Group (LSE:IAG) share price has jumped 36%. However, last week the FTSE 100 share was one of the top stocks that retail investors using Hargreaves Lansdown sold. Given that it wasn’t in the list of top purchases, it indicates to me a clear message. Here’s what I think’s happening.
Banking some profit
The rally over the past year has pushed the stock higher, breaking 200p for the first time since spring 2021. So even before I consider anything company specific, I can see one reason for the interest in selling.
A lot of investors (me included) will have a target price for a particular stock. Especially when it comes to a value stock, I’ll have an idea of where I think the fair value should be, which is where I’d consider starting to book some profit.
During the pandemic, the airline operator was hit hard. However, it did look cheap, especially…
