4 Stocks Insiders Are Selling
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.
Darden Restaurants
The Trade: Darden Restaurants, Inc. (NYSE: DRI) Director Simon William S disposed a total of 6250 shares at an average price of $159.94. The insider received $999,610.00 as a result of the transaction.
What’s Happening: Darden Restaurants recently reported first-quarter FY22 sales growth of 51.3% year-on-year, to $2.31 billion.
What Darden Restaurants Does: Darden Restaurants is the largest restaurant operator in the U.S. casual and fine dining markets, with consolidated revenue of $7.2 billion in fiscal 2021 resulting in 3.8% market share (per Euromonitor data and our calculations).
Buckle
The Trade: The Buckle, Inc. (NYSE: BKE) President & CEO Dennis Nelson sold a total of 30000 shares at an average price of $43.95. The insider received $1,318,602.00 from selling those shares.
What’s Happening: The Buckle, earlier during the month, reported August comparable sales rose 42.7% year over year.
What Buckle Does: Buckle Inc is a retailer of casual apparel, footwear, and accessories.
Broadcom
The Trade: Broadcom Inc. (NASDAQ: AVGO) Chief Legal Officer Mark Brazeal sold a total of 3150 shares at an average price of $504.09. The insider received $1,587,889.80 as a result of the transaction.
What’s Happening: The company, earlier during the month, reported upbeat quarterly results.
What Broadcom Does: Broadcom--the combined entity of Broadcom and Avago--boasts a highly diverse product portfolio across an array of end markets.
Synovus Financial
The Trade: Synovus Financial Corp. (NYSE: SNV) Executive Chairman Kessel Stelling sold a total of 11398 shares at an average price of $45.00. The insider received $512,910.00 from selling those shares.
What’s Happening: Synovus is expected to report Q3 results on October 19, 2021.
What Synovus Financial Does: Synovus Financial operates dozens of community banks throughout Georgia, Alabama, Florida, Tennessee, and South Carolina.
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