US gold futures traded higher this morning on Friday. 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.
SBA Communications
- The Trade: SBA Communications Corporation (NASDAQ:SBAC) Director, Chief Executive Officer & Pres Jeffrey Stoops sold a total of 30,000 shares at an average price of $344.07. The insider received around $10.32 million from selling those shares.
- What’s Happening: The company, last month, posted upbeat quarterly earnings.
- What SBA Communications Does: SBA Communications owns and operates roughly 34,000 cell towers throughout North America, South America, and Africa. It leases space on its towers to wireless service providers, who install equipment on the towers to support their wireless networks.
Berry Corporation
- The Trade: Berry Corporation (NASDAQ:BRY) 10% owner Thomas Gahan sold a total of 741,000 shares at an average price of $11.08. The insider received around $8.21 million from selling those shares.
- What’s Happening: Berry Corporation recently raised its buyback to $150 million.
- What Berry Does: Berry Corp is a western United States independent upstream energy company with a focus on the conventional, long-lived oil reserves in the San Joaquin basin of California.
Also check this: Insiders Buy Around $2M Of 2 Penny Stocks
Morningstar
- The Trade: Morningstar, Inc. (NASDAQ:MORN) Executive Chairman Joseph Mansueto sold a total of 10,377 shares at an average price of $245.62. The insider received around $2.55 million as a result of the transaction.
- What’s Happening: Morningstar, last month, posted Q1 adjusted EPS of $1.41.
- What Morningstar Does: Morningstar Inc is a provider of independent investment research to financial advisers, asset managers, and investors. The company focuses its operations on two core sectors: data and research.
Have a look at our premarket coverage here .
RPC
- The Trade: RPC, Inc. (NYSE:RES) Director Gary W Rollins sold a total of 564,879 shares at an average price of $8.98. The insider received around $5.07 million from selling those shares.
- What’s Happening: RPC recently named Richard A. Hubbell as Executive Chairman.
- What RPC Does: RPC Inc is an oilfield services company. It provides specialized oilfield services and equipment primarily to independent and major oil and gas companies engaged in the exploration, production, and development of oil and gas properties throughout the United States.
Talos Energy
- The Trade: Talos Energy Inc. (NYSE:TALO) 10% owner ILX Holdings II, LLC sold a total of 198,242 shares at an average price of $20.99. The insider received around $4.16 million from selling those shares.
- What’s Happening: Keybanc maintained Talos Energy with an Overweight and raised the price target from $22 to $24.
- What Talos Energy Does: Talos Energy Inc is an independent oil and gas company primarily involved in offshore exploration and production. The company has operations in the United States, Gulf of Mexico, and offshore Mexico.
