Comcast, Discover Financial And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by more than 100 points 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.

MSC Industrial Direct

• The Trade: MSC Industrial Direct Co., Inc. MSM Director Mitchell Jacobson sold a total of 156,462 shares at an average price of $97.65. The insider received around $15.28 million from selling those shares.
• What’s Happening: MSC Industrial Direct announced the acquisition of KAR Industrial Inc., a Canadian distributor of metalworking tools and accessories.
• What MSC Industrial Direct Does: MSC Industrial Direct is one of the largest industrial distributors with a focus on metalworking and maintenance, repair, and operations products and services.

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Verint Systems

• The Trade: Verint Systems Inc. VRNT Chairman and CEO Dan Bodner sold a total of 68,372 shares at an average price of $30.00. The insider received around $2.05 million from selling those shares.
• What’s Happening: Needham analyst Joshua Reilly recently reiterated Verint Systems with a Buy and maintained a $40 price target.
• What Verint Systems Does: Verint Systems Inc with its subsidiaries helps brands provide Boundless Customer Engagement.

Discover Financial

• The Trade: Discover Financial Services DFS EVP, Chief Financial Officer John Greene sold a total of 35,191 shares at an average price of $106.51. The insider received around $3.75 million from selling those shares.
• What’s Happening: Discover Financial reported a 62% plunge in its profit for the fourth quarter.
• What Discover Financial Does: Discover Financial Services is a bank operating in two distinct segments: direct banking and payment services.

Comcast

• The Trade: Comcast Corporation CMCSA President Michael Cavanagh sold a total of 114,749 shares at an average price of $46.10. The insider received around $5.29 million from selling those shares.
• What’s Happening: Comcast reported better-than-expected fourth-quarter earnings, announced a $15 billion buyback and raised its dividend.
• What Comcast Does: Comcast is made up of three parts. The core cable business owns networks capable of providing television, internet access, and phone services to 62 million U.S. homes and businesses, or nearly half of the country.

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