U.S. stock futures traded slightly higher this morning on Wednesday ahead of the inflation report for July. 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 the notable insider sale. For more, check out Benzinga's insider transactions platform.
- The Trade: TTM Technologies, Inc. TTMI EVP, General Counsel Daniel J Weber sold a total of 10,000 shares at an average price of $16.36. The insider received around $163.59 thousand from selling those shares.
- What’s Happening: TTM Technologies recently reported better-than-expected Q2 EPS and sales results.
- What TTM Technologies Does: TTM Technologies Inc manufactures printed circuit boards. The company is based in the United States and derives roughly half of its revenue domestically.
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