American Airlines And 2 Other Stocks Insiders Are Selling

The S&P 500 closed slightly lower on Monday. 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.

PulteGroup

• The Trade: PulteGroup, Inc. PHM Exec. VP & CFO Robert Oshaughnessy sold a total of 115,102 shares at an average price of $66.90. The insider received around $7.7 million from selling those shares.
• What’s Happening: PulteGroup reported better-than-expected Q1 results and approved a $1 billion increase to its buyback program.
• What PulteGroup Does: PulteGroup Inc is one of the largest homebuilders in the United States, operating in 42 markets across 24 states.

Have a look at our premarket coverage here

American Airlines

• The Trade: American Airlines Group Inc. AAL SVP Corporate Controller Angela Owens sold a total of 21,984 shares at an average price of $13.79. The insider received around $303.16 thousand from selling those shares.
• What’s Happening: American Airlines posted downbeat quarterly sales.
• What American Airlines Does: American Airlines is the world's largest airline by scheduled revenue passenger miles.

IMAX

• The Trade: IMAX Corporation IMAX CEO Richard L Gelfond sold a total of 100,000 shares at an average price of $20.95. The insider received around $2.09 million from selling those shares.
• What’s Happening: Imax reported better-than-expected Q1 financial results.
• What IMAX Does: Imax is now primarily a technology hardware and brand-licensing company that does not operate the vast majority of Imax theaters.