Best Buy And 3 Other Stocks Sold By Insiders

Although gold futures traded higher on Thursday, there were a few 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.

Best Buy

  • The Trade: Best Buy Co., Inc. BBY CEO Corie Barry sold a total of 17,741 shares at an average price of $99.06. The insider received around $1.76 million from selling those shares.
  • What’s Happening: Best Buy, earlier during the month, reported Q4 earnings results and raised its quarterly dividend.
  • What Best Buy Does: With $51.8 billion in fiscal 2022 sales, Best Buy is the largest pure-play consumer electronics retailer in the U.S., with roughly 10.6% share of the aggregate market and north of 40% share of offline sales, per our calculations, CTA industry, and Euromonitor data.

TransDigm Group

  • The Trade: TransDigm Group Incorporated TDG Director Raymond Laubenthal sold a total of 5,000 shares at an average price of $670.00. The insider received around $3.35 million from selling those shares.
  • What’s Happening: TransDigm recently agreed to acquire DART Aerospace, a portfolio company of Greenbriar Equity Group, L.P., and First Aviation Services Inc., for $360 million in cash.
  • What TransDigm Group Does: TransDigm manufactures and services a diverse set of components for commercial and military aircraft.

Also check this: Executives Buy Around $39M Of 4 Stocks

Group 1 Automotive

  • The Trade: Group 1 Automotive, Inc. GPI President and CEO Earl J Hesterberg sold a total of 15,000 shares at an average price of $196.29. The insider received around $1.96 million as a result of the transaction.
  • What’s Happening: Group 1 Automotive recently expanded a $2.0 billion five-year revolving syndicated credit facility with 21 financial institutions to $2.4 billion
  • What Group 1 Automotive Does: Excluding its Brazil operations about to be sold, Group 1 owns and operates 46 collision centers and 201 automotive dealerships in the U.S. and the U.K., offering 34 brands of automobiles altogether--nearly 150 of the stores are in the U.S. with American locations mostly in metropolitan areas in 17 states in the Northeast, Southeast, Midwest, and in California. Texas alone contributed 40% of new vehicle unit volume in 2021 excluding Brazil and the U.K. about 19%. Texas, Oklahoma, and Massachusetts combined were about 55%.

Have a look at our premarket coverage here .

Morningstar

  • The Trade: Morningstar, Inc. MORN Executive Chairman Joseph Mansueto sold a total of 12,843 shares at an average price of $282.00. The insider received around $3.62 million from selling those shares.
  • What’s Happening: Morningstar, last month, posted Q4 EPS of $1.50.
  • What Morningstar Does: Morningstar Inc is a provider of independent investment research to financial advisers, asset managers, and investors. The company focuses its operations on two core sectors: data and research.
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