3 Stocks Insiders Are Selling: State Street, Playa Hotels & Resorts And More

The US Federal Reserve is likely to maintain a hawkish tone during its policy meeting today. 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.

Playa Hotels & Resorts

• The Trade: Playa Hotels & Resorts N.V. PLYA Director MrKarl Peterson disposed a total of 30,000 shares at an average price of $7.29. The insider received $218.7 thousand as a result of the transaction.
• What’s Happening: Playa Hotels & Resorts recently said it sees Q4 total owned resort portfolio of 7.124k rooms at occupancy rate of 66% at average daily rate of $325.
• What Playa Hotels & Resorts Does: Playa Hotels & Resorts NV acts as an owner, operator, and developer of all-inclusive resorts in prime beachfront locations in popular vacation destinations.

State Street

• The Trade: State Street Corporation STT Executive Vice President Andrew Erickson sold a total of 16,000 shares at an average price of $89.00. The insider received $1.42 million from selling those shares.
• What’s Happening: The company recently reported upbeat quarterly results.
• What State Street Does: State Street is a leading provider of financial services, including investment servicing, investment management, and investment research and trading.

Also check out these stocks insiders are buying

LMP Automotive Holdings

• The Trade: LMP Automotive Holdings, Inc. LMPX President and CEO Samer Tawfik sold a total of 9,000 shares at an average price of $6.41. The insider received $57.69 thousand as a result of the transaction.
• What’s Happening: The company’s stock tumbled around 60% over the previous six months.
• What LMP Automotive Does: LMP Automotive Holdings Inc is an e-commerce and facilities-based retail platform for consumers who desire to buy, sell, rent, subscribe for or finance pre-owned and new automobiles.