Halliburton, Signet Jewelers And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed higher on Tuesday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. 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.

Signet Jewelers

• The Trade: Signet Jewelers Limited SIG Director Brian Tilzer sold a total of 5,000 shares at an average price of $70.00. The insider received around $350,000 from selling those shares.
• What’s Happening: Signet Jewelers recently lowered FY24 guidance below consensus.
• What Signet Jewelers Does: Signet Jewelers Ltd is a retailer of diamond jewelry. Its merchandise mix includes bridal, fashion, watches and others.

Have a look at our premarket coverage here

Halliburton

• The Trade: Halliburton Company HAL EVP and CFO Eric Carre sold a total of 66,589 shares at an average price of $35.00. The insider received around $2.33 million from selling those shares.
• What’s Happening: Halliburton recently plans to ink a long-term strategic pact with Var Energi ASA for drilling services.
• What Halliburton Does: Halliburton is one of the three largest oilfield service firms in the world, offering superior expertise in a number of business lines, including completion fluids, wireline services, cementing, and countless others.

Morningstar

• The Trade: Morningstar, Inc. MORN Executive Chairman Joseph Mansueto sold a total of 22,902 shares at an average price of $197.82. The insider received around $4.53 million from selling those shares.
• What’s Happening: Morningstar recently said first-quarter EPS results were lower year over year.
• 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.

Commercial Metals

• The Trade: Commercial Metals Company CMC SVP Operations TY L Garrison sold a total of 5,000 shares at an average price of $52.96. The insider received around $264,800 from selling those shares.
• What’s Happening: UBS initiated coverage on Commercial Metals with a Buy rating and announced a price target of $63.
• What Commercial Metals Does: Commercial Metals operates steel mills, steel fabrication plants, and metal recycling facilities in the United States and Poland.

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