Insiders Selling Perrigo And 3 Other Stocks

The Nasdaq Composite dropped by around 2% on Thursday. 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.

Installed Building Products

• The Trade: Installed Building Products, Inc. IBP President, CEO and Chairman Jeffrey Edwards sold a total of 125,000 shares at an average price of $114.50. The insider received around $14.31 million from selling those shares.
• What’s Happening: Installed Building Products reported better-than-expected Q4 adjusted EPS and sales results.
• What Installed Building Products Does: Installed Building Products Inc is an insulation installer serving the residential new construction market and are also a diversified installer of complementary building products, including waterproofing, fire-stopping and fireproofing, garage doors, rain gutters, window blinds, shower doors, closet shelving, mirrors and other products throughout the United States.

Have a look at our premarket coverage here

Standard Motor Products

• The Trade: Standard Motor Products, Inc. SMP Chief Commercial Officer & EVP Dale Burks sold a total of 3,530 shares at an average price of $38.40. The insider received around $135.55 thousand from selling those shares.
• What’s Happening: Standard Motor Products reported better-than-expected Q4 earnings.
• What Standard Motor Products Does: Standard Motor Products Inc is a manufacturer and distributor of premium automotive parts used in the maintenance, service, and repair of vehicles in the automotive aftermarket industry.

Perrigo Company

• The Trade: Perrigo Company plc PRGO EVP, Gbl Ops & SC & CTO Ronald C. Janish sold a total of 4,500 shares at an average price of $36.92. The insider received around $166.13 thousand from selling those shares.
• What’s Happening: Perrigo reported better-than-expected Q1 earnings
• What Perrigo Does: Perrigo Co PLC is a private label supplier of generic over the counter (OTC) drugs in the U.S. and Europe. The company's product offerings fall under traditional OTC drug categories (i.e. cough, cold, allergy, pain), in addition to oral care, infant nutrition (formula), and nicotine cessation aids.

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The Cooper Companies

• The Trade: The Cooper Companies, Inc. COO President, CooperVision, Inc. Gerard H. Warner III sold a total of 1,216 shares at an average price of $340.53. The insider received around $414.09 thousand from selling those shares.
• What’s Happening: Cooper Companies reported better-than-expected Q1 results.
• What Cooper Companies Does: Cooper Companies operates two units: CooperVision and CooperSurgical. Accounting for approximately 75% of total sales, CooperVision is the the second-largest player in the oligopolistic contact lens market.