Although crude oil futures traded lower on Friday, 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.
Oak Street Health
- The Trade: Oak Street Health, Inc. (NYSE: OSH) Chief Innovation Officer Geoffrey Price sold a total of 80,000 shares at an average price of $24.83. The insider received around $1.99 million from selling those shares.
- What’s Happening: Goldman Sachs (NYSE:GS) recently maintained Oak Street Health with a Buy and lowered the price target from $68 to $37.
- What Oak Street Health Does: Oak Street Health Inc is a fast-growing network of value-based, primary care centers for adults on Medicare.
- The Trade: Holley Inc. (NYSE: HLLY) 10% owner Sentinel Capital Investors V, L.P. sold a total of 2,000,000 shares at an average price of $13.00. The insider received around $26 million from selling those shares.
- What’s Happening: The company recently posted downbeat quarterly earnings.
- What Holley Does: Holley Inc is a designer, marketer, and manufacturer of high-performance automotive aftermarket products, featuring a portfolio of iconic brands serving the car and truck industry.
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Continental Resources
- The Trade: Continental Resources, Inc. (NYSE: CLR) President Jack Stark sold a total of 25,000 shares at an average price of $63.68. The insider received around $1.59 million as a result of the transaction.
- What’s Happening: Keybanc recently maintained Continental Resources with an Overweight and raised the price target from $63 to $68.
- What Continental Resources Does: Continental Resources is a U.S. oil and gas producer targeting in the Bakken Shale in North Dakota, the Delaware Basin in Texas, and the Scoop/Stack plays in Oklahoma.
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