Merck, Delta Air Lines And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower on Thursday. 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.

Jefferies Financial

• The Trade: Jefferies Financial Group Inc. JEF Director, Chairman of the Board Joseph Steinberg sold a total of 481,201 shares at an average price of $35.71. The insider received around $17.18 million from selling those shares.
• What’s Happening: Jefferies Financial posted weaker-than-expected secpnd-quarter earnings.
• What Jefferies Financial Does: Jefferies Financial Group Inc is a diversified financial services company.

Have a look at our premarket coverage here

CVS Health

• The Trade: CVS Health Corporation CVS James D. Clark sold a total of 25,759 shares at an average price of $74.92. The insider received around $1.93 million from selling those shares.
• What’s Happening: CVS Health reported better-than-expected second-quarter financial results and issued FY23 guidance.
• What CVS Health Does: CVS Health offers a diverse set of healthcare services. Its roots are in its retail pharmacy operations, where it operates over 9,000 stores primarily in the U.S.

Delta Air Lines

• The Trade: Delta Air Lines, Inc. DAL EVP - External Affairs Peter W Carter sold a total of 7,056 shares at an average price of $45.00. The insider received around $317,520 from selling those shares.
• What’s Happening: Delta Air Lines reported better-than-expected second-quarter results.
• What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world's largest airlines, with a network of over 300 destinations in more than 50 countries.

Merck & Co

• The Trade: Merck & Co., Inc. MRK EVP, Chief HR Officer Steven Mizell sold a total of 4,500 shares at an average price of $105.49. The insider received around $474,701 from selling those shares.
• What’s Happening: The FDA has approved an expanded indication for Merck's Ervebo, to prevent the disease caused by zaire ebolavirus in individuals 12 months of age and older.
• What Merck & Co Does: Merck makes pharmaceutical products to treat several conditions in a number of therapeutic areas, including cardiometabolic disease, cancer, and infections.

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