U.S. stocks recorded losses for the month of August. Investors, meanwhile, focused on some notable insider trades.
When insiders sell shares, it indicates their concern in the company’s prospects or that they view the stock as being overpriced. Either way, this signals an opportunity to go short on the stock. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.
Below is a look at a few recent notable insider sales. For more, check out Benzinga’s insider transactions platform.
- The Trade: PriceSmart, Inc. PSMT Director Robert E Price sold a total of 20,000 shares at an average price of $64.09. The insider received around $1.28 million from selling those shares.
- What’s Happening: PriceSmart, during July, reported worse-than-expected Q3 EPS results.
- What PriceSmart Does: Pricesmart Inc is a company principally engaged in operating U.S.-style membership shopping warehouse clubs that offer consumer goods at low prices.
- The Trade: Shoe Carnival, Inc. SCVL Director Andrea R Guthrie sold a total of 1,665 shares at an average price of $24.04. The insider received around $40.03 thousand as a result of the transaction.
- What’s Happening: Shoe Carnival recently posted Q2 EPS of $1.04.
- What Shoe Carnival Does: Shoe Carnival Inc is a footwear retailer with hundreds of stores in the United States. It offers moderately priced, name-brand dress, casual, and athletic footwear for men, women, and children.
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- The Trade: Electronic Arts Inc. EA Director, CEO and Board Chair Andrew Wilson sold a total of 7,373 shares at an average price of $130.05. The insider received around $958.88 thousand from selling those shares.
- What’s Happening: Electronic Arts recently announced a buyback program of up to $2.6 billion.
- What Electronic Arts Does: EA is one of the world’s largest third-party video game publishers and has transitioned from a console-based video game publisher to the one of the largest publishers on consoles, PC, and mobile.