Box, Wynn Resorts And 2 Other Stocks Insiders Are Selling
Author: Avi Kapoor | August 14, 2024 08:34am
The Nasdaq 100 closed higher by around 2.5% during Tuesday's session. 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.
Wynn Resorts
- The Trade: Wynn Resorts, Limited (NASDAQ:WYNN) Director Margaret Jane Myers <a href=”https://www.benzinga.com/sec/insider-trades/”><em> sold a total of 2,000 shares </em></a> at an average price of $98.05. The insider received around $196,100 from selling those shares.
- What's Happening: On Aug. 6, Wynn Resorts reported quarterly earnings of $1.12 per share on revenue of $1.733 billion with both figures missing the analyst consensus estimates.
- What Wynn Resorts Does: Wynn Resorts operates luxury casinos and resorts. The company was founded in 2002 by Steve Wynn, the former CEO.
Box
- The Trade: Box, Inc. (NYSE:BOX) CFO Dylan C Smith sold a total of 13,000 shares at an average price of $27.05. The insider received around $351,676 from selling those shares.
- What's Happening: On July 31, Box and Slack expanded partnership with the launch of Box AI in Slack.
- What Box Does: Box is a cloud-based content services platform that provides cloud-based storage and workflow collaboration services for enterprise customers.
M&T Bank
- The Trade: M&T Bank Corporation (NYSE:MTB) Sr. Executive Vice President Michael J. Todaro sold a total of 4,791 shares at an average price of $162.57. The insider received around $778,897 from selling those shares.
- What's Happening: On July 18, M&T Bank reported better-than-expected second-quarter financial results.
- What M&T Bank Does: M&T Bank is one of the largest regional banks in the United States, with branches in New York, Pennsylvania, West Virginia, Virginia, Maryland, Delaware, and New Jersey.
Mosaic
- The Trade: The Mosaic Company (NYSE:MOS) Director Kelvin R Westbrook sold a total of 12,666 shares at an average price of $27.32. The insider received around $346,042 from selling those shares.
- What's Happening: On Aug. 6, Mosaic posted downbeat quarterly earnings.
- What Mosaic Does: Formed in 2004 by the combination of IMC Global and Cargill’s fertilizer business, Mosaic is one of the largest phosphate and potash producers in the world.
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Posted In: BOX MOS MTB WYNN
