U.S. crude oil futures traded higher this morning. 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.
TJX (NYSE:TJX) Companies
- The Trade: The TJX Companies, Inc. (NYSE: TJX) CEO and President Ernie Herrman sold a total of 50,282 shares at an average price of $65.90. The insider received around $3.31 million from selling those shares.
- What’s Happening: TJX Companies, last month, reported better-than-expected Q2 EPS.
- What TJX Does: TJX is a leading off-price retailer of apparel, home fashions, and other merchandise. It sells a variety of branded goods, opportunistically buying inventory from a network of over 21,000 vendors worldwide.
H&R Block
- The Trade: H&R Block, Inc. (NYSE: HRB) President, Global Consumer Tax & Service Delivery Karen Orosco sold a total of 50,000 shares at an average price of $45.00,. The insider received around $2.25 million as a result of the transaction.
- What’s Happening: H&R Block, last month, said Q4 sales results were higher year over year.
- What H&R Block Does: H&R Block Inc provides income tax return preparation services, digital do-it-yourself tax solutions, and other services related to income tax preparation to the general public primarily in the United States, Canada, and Australia.
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Marriott International
- The Trade: Marriott International, Inc (NASDAQ: MAR) Director Eric Hippeau sold a total of 13,987 shares at an average price of $158.77. The insider received around $2.22 million from selling those shares.
- What’s Happening: Marriott, last month, reported second-quarter FY22 sales growth of 69.5% year-on-year to $5.34 billion, beating the consensus of $4.92 billion.
- What Marriott International Does: Marriott operates about 1.5 million rooms across roughly 30 brands. At the end of 2021, luxury represented 10% of total rooms, while full service, limited service, and time-shares were 43%, 46%, and 2% of all units, respectively.
- The Trade: Tempur Sealy International, Inc. (NYSE: TPX) EVP Global Business Strategy David Montgomery sold a total of 100,000 shares at an average price of $26.24. The insider received around $2.62 million from selling those shares.
- What’s Happening: Tempur Sealy International, late July, reported second-quarter FY22 sales growth of 3.6% year-on-year, to $1.21 billion.
- What Tempur Sealy International Does: Tempur Sealy International Inc is one of the world's largest bedding providers. The firm develops and distributes bedding products globally through its North America and international segments (Europe, Asia Pacific, and Latin America).
Read at Benzinga