US crude oil futures traded lower 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.
Nu Skin Enterprises
- The Trade: Nu Skin Enterprises, Inc. (NYSE:NUS) Director, Exec. Chairman of the Board Steven Lund sold a total of 8,126 shares at an average price of $45.02. The insider received around $365.82 thousand from selling those shares.
- What’s Happening: Nu Skin, last month, reported Q1 earnings results and issued Q2 and FY22 EPS and sales guidance below analyst estimates.
- What Nu Skin Enterprises Does: Nu Skin Enterprises Inc is a health and beauty direct-selling company with a comprehensive product line: anti-aging skin products; peels, masks, and scrubs; moisturizers; body care; hair care; men's care; oral care; sun protection; and cosmetics.
Also check this: Insiders Buy More Than $21M Of 3 Penny Stocks
PriceSmart
- The Trade: PriceSmart, Inc. (NASDAQ:PSMT) Director Robert E Price sold a total of 20,000 shares at an average price of $72.29. The insider received around $1.45 million as a result of the transaction.
- What’s Happening: The company’s stock dropped around 2% over the past six months.
- What PriceSmart Does: Pricesmart Inc is a company principally engaged in operating U.S.-style membership shopping warehouse clubs that offer consumer goods at low prices.
Have a look at our premarket coverage here .
Target
- The Trade: Target Corporation (NYSE:TGT) Executive Officer John Mulligan sold a total of 45,490 shares at an average price of $139.98. The insider received around $6.37 million from selling those shares.
- What’s Happening: Target recently announced an inventory optimization plan, which will result in additional Q2 costs.
- What Target Does: With 1,926 stores (as of the end of fiscal 2021), Target is a leading American general merchandise retailer, offering a variety of products across several categories, including beauty and household essentials (26% of fiscal 2021 sales), food and beverage (19%), home furnishings and décor (19%), hardlines (18%), and apparel and accessories (17%).
