The Dow Jones fell over 250 points on Monday. Investors, meanwhile, focused on some notable insider trading.
When insiders sell stock, it shows they are concerned about the company’s prospects or that they think the stock is overpriced. Either way, it signals an opportunity to go short on the stock. Insider selling should not be considered the sole indicator of an investment or trading decision. At best, it can persuade a sales decision.
Below is a look at some notable recent insider sales. For more information, see Benzinga insider trading Platform.
Abercrombie & Fitch
- The trade: Abercrombie & Fitch Co. ANF President-Global Brands Kristin Scott sold a total of 52,431 shares at an average price of $27.87. The insider received around $1.46 million from the sale of those shares.
- What’s up: Abercrombie & Fitch recently raised its net sales guidance for the fourth quarter.
- What Abercrombie & Fitch does: Abercrombie & Fitch Co is a specialty retailer that sells casual wear, personal care products and accessories for men, women and children.
Look at that: The 5 Most Expensive Industrial Stocks to Worry About
SLB
- The trade: SLB SLB Pres Digital & Integration Rajeev Sonthalia sold a total of 24,150 shares at an average price of $56.52. The insider received approximately $1.36 million through the transaction.
- What’s up: Schlumberger recently released positive quarterly results.
- What Schlumberger does: SLB, formerly known as Schlumberger, is the largest oilfield services company in the world with expertise in a myriad of disciplines including reservoir performance, well construction, production improvement and, more recently, digital solutions.
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Group 1 automobile
- The trade: Group 1 Automotive, Inc. GPI Sr. VP & General Counsel Darryl M. Burman sold a total of 2,500 shares at an average price of $205.50. The insider received approximately $513.75,000 from the sale of those shares.
- What is…
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