US stocks traded higher on Wednesday. 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: Danaher Corporation DHR Executive Vice President Joakim Weidemanis sold a total of 12,000 shares at an average price of $271.13. The insider received around $3.25 million from selling those shares.
- What’s Happening: Danaher recently reported better-than-expected Q2 EPS and sales results.
- What Danaher Does: In 1984, Danaher's founders transformed a real estate organization into an industrial-focused manufacturing company.
Sturm, Ruger & Company
- The Trade: Sturm, Ruger & Company, Inc. RGR VP of Mayodan Operations Michael Wilson sold a total of 2,530 shares at an average price of $63.28. The insider received around $160.1 thousand as a result of the transaction.
- What’s Happening: Sturm, Ruger & Company is expected to announce its financial results for the second quarter Q on Wednesday, August 3, 2022, after the close of the stock market.
- What Sturm, Ruger & Company Does: Sturm Ruger & Co Inc and its subsidiary are principally engaged in the design, manufacture, and sale of firearms to domestic customers.
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- The Trade: Nucor Corporation NUE Executive Vice President Allen Behr sold a total of 3,407 shares at an average price of $122.17. The insider received around $416.23 thousand from selling those shares.
- What’s Happening: Nucor recently reported better-than-expected Q2 EPS and sales results.
- What Nucor Does: Nucor Corp manufactures steel and steel products. The company also produces direct reduced iron for use in its steel mills.
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