US stocks recorded losses for the month of August. Investors, meanwhile, focused on some notable insider trading.
When insiders sell shares, it indicates that they are concerned about the company’s prospects or that they see the stock as overvalued. Either way, it signals an opportunity to lose the stock. Insider sales should not be taken as the sole indicator for making an investment or trading decision. At best, it can convince a sell decision.
Below is a look at some recent notable interior sales. For more, see Benzinga’s internal transactions platform.
PriceSmart
- Trade: PriceSmart, Inc. PSMT Director Robert E Price sold a total of 20,000 shares with an average price of $64.09. The insider received approximately $1.28 million from the sale of these shares.
- What is happening: PriceSmart, in July, reported worse-than-expected third-quarter EPS.
- What PriceSmart does: Pricesmart Inc is a company primarily engaged in the operation of American-style membership shopping warehouse clubs that offer consumer goods at low prices.
Also check this: The Fear and Greed Index drops, but remains in the “Neutral” zone.
Shoe carnival
- Trade: Shoe Carnival, Inc. SCVL Director Andrea R Guthrie sold a total of 1,665 shares at an average price of $24.04. The insider received about $40.03 thousand as a result of the transaction.
- What is happening: Shoe Carnival recently posted second quarter EPS of $1.04.
- What Shoe Carnival does: Shoe Carnival Inc is a shoe retailer with hundreds of stores in the United States. It offers moderately priced dresses, designer dresses, casual and athletic shoes for men, women and children.
Take a look at our pre-trade coverage here.
Electronic Arts
- Trade: Electronic Arts Inc. EA Director, CEO and Chairman of the Board Andrew Wilson sold a total of 7,373 shares at an average price of $130.05. The insider received approximately $958.88 thousand from the sale of these shares.
- What is happening: Electronic Arts recently announced a buyback program of up to $2.6 billion.
- What Electronic Arts does: EA is one of the largest third-party video game publishers in the world and has grown from a console-based video game publisher to one of the largest publishers across consoles, PC and mobile.
