Hyatt Hotels, Charles Schwab And 2 Other Stocks Insiders Are Selling

The S&P 500 dropped over 2% on Tuesday. 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.

Morningstar

• The Trade: Morningstar Inc MORN Executive Chairman Joseph Mansueto sold a total of 5,347 shares at an average price of $237.30. The insider received around $1.27 million from selling those shares.
• What’s Happening: Redburn Partners, last month, downgraded Morningstar from Buy to Neutral.
• What Morningstar Does: Morningstar Inc is a provider of independent investment research to financial advisers, asset managers, and investors.

Have a look at our premarket coverage here

Hyatt Hotels

• The Trade: Hyatt Hotels Corporation H Director Cary McMillan sold a total of 1,790 shares at an average price of $113.93. The insider received around $203.93 thousand from selling those shares.
• What’s Happening: Hyatt Hotels reported fourth-quarter FY22 sales of $1.58 billion, beating the consensus of $1.52 billion.
• What Hyatt Hotels Does: Hyatt is an operator of 1,162 owned (5% of total rooms) and managed and franchise (95%) properties across roughly 20 upscale luxury brands, which includes vacation brands (Apple Leisure Group, Hyatt Ziva and Hyatt Zilara), the recently launched full-service lifestyle brand Hyatt Centric, the soft lifestyle brand Unbound, and the wellness brand Miraval.

Johnson Outdoors

• The Trade: Johnson Outdoors Inc. JOUT Director John Fahey Jr sold a total of 4,239 shares at an average price of $63.94. The insider received around $271.04 thousand from selling those shares.
• What’s Happening: Johnson Outdoors reported first-quarter FY23 sales growth of 16.1% year-on-year to $178.34 million, beating the consensus of $167.55 million.
• What Johnson Outdoors Does: Johnson Outdoors Inc is a global manufacturer and marketer of branded seasonal, outdoor recreation products used for fishing from a boat, diving, paddling, hiking and camping.

Check This Out: Top 5 Consumer Stocks Which You'll Regret Missing In Q1 2023

Charles Schwab

• The Trade: Charles Schwab Corporation SCHW Director Charles Ruffel sold a total of 5,176 shares at an average price of $80.88. The insider received around $418.66 thousand from selling those shares.
• What’s Happening: Schwab said 2022 revenues grew 12% to $20.8 billion.
• What Charles Schwab Does: Charles Schwab operates in brokerage, banking, and asset-management businesses.