Insiders Selling SLB, Abercrombie & Fitch And This Consumer Cyclical Stock

The Dow Jones dropped by over 250 points on Monday. 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.

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 selling those shares.
• What’s Happening: Abercrombie & Fitch recently raised its Q4 net sales guidance.
• What Abercrombie & Fitch Does: Abercrombie & Fitch Co is a specialty retailer that sells casual clothing, personal-care products, and accessories for men, women, and children.

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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 around $1.36 million as a result of the transaction.
• What’s Happening: Schlumberger recently posted upbeat quarterly earnings.
• What Schlumberger Does: SLB, formerly known as Schlumberger, is the largest oilfield service firm in the world, with expertise in myriad disciplines, including reservoir performance, well construction, production enhancement, and more recently, digital solutions.

Have a look at our premarket coverage here

Group 1 Automotive

• 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 around $513.75 thousand from selling those shares.
• What’s Happening: Group 1 Automotive posted better-than-expected Q4 results.
• What Group 1 Automotive Does: Group 1 owns and operates 47 collision centers and 203 automotive dealerships in the U.S. and the U.K., offering 35 brands of automobiles altogether.