Archer-Daniels-Midland, Morningstar And 2 Other Stocks Insiders Are Selling

The Nasdaq 100 closed lower by over 80 points 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.

Kirby

• The Trade: Kirby Corporation KEX Director Richard J Alario sold a total of 2,500 shares at an average price of $121.39. The insider received around $303,475 from selling those shares.
• What's Happening: On April 25, Kirby reported better-than-expected first-quarter EPS and sales.
• What Kirby Does: Kirby Corp is a domestic tank barge operator, transporting bulk liquid products throughout three United States coasts.

Have a look at our premarket coverage here

Group 1 Automotive

• The Trade: Group 1 Automotive, Inc. GPI SVP and CFO Daniel James McHenry sold a total of 2,437 shares at an average price of $309.61. The insider received around $754,520 from selling those shares.
• What's Happening: On May 9, Group 1 Automotive board approved a new $250 million share repurchase authorization and declared a quarterly dividend.
• What Group 1 Automotive Does: As of year-end 2023, Group 1 owns and operates 41 collision centers and 199 automotive dealerships in the US and the UK, offering 35 brands of automobiles altogether.

Archer-Daniels-Midland

• The Trade: Archer-Daniels-Midland Company ADM Vice Pres., Corp. Controller Fruit Molly L Strader sold a total of 6,904 shares at an average price of $60.73. The insider received around $419,280 from selling those shares.
• What's Happening: On April 30, the company reported first-quarter adjusted earnings per share of $1.46, beating the analyst consensus of $1.36.
• What Archer-Daniels-Midland Does: Archer-Daniels Midland is a major processor of oilseeds, corn, wheat, and other agricultural commodities.

Morningstar

• The Trade: Morningstar, Inc. MORN Executive Chairman Joseph D Mansueto sold a total of 13,009 shares at an average price of $299.03. The insider received around $3.89 million from selling those shares.
• What's Happening: Morningstar said Rod Diefendorf will be appointed the next leader of PitchBook as President and Chief Operating Officer.
• What Morningstar Does: Morningstar Inc is a provider of independent investment research to financial advisers, asset managers, and investors.

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