Halliburton, Signet Jewelers And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Lisa Levin
Insiders at Signet Jewelers (SIG), Halliburton (HAL), Morningstar (MORN), and Commercial Metals (CMC) have recently sold significant amounts of shares. Signet Jewelers lowered its FY24 guidance below consensus, Halliburton plans to sign a long-term strategic pact with Var Energi ASA for drilling services, Morningstar reported lower Q1 EPS year over year, and UBS initiated coverage on Commercial Metals with a Buy rating and a price target of $63.
July 12, 2023 | 12:21 pm
News sentiment analysis
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NEGATIVE IMPACT
Morningstar's Executive Chairman sold 22,902 shares at $197.82 each. The company reported lower Q1 EPS year over year.
The insider sale, along with the reported lower Q1 EPS, could indicate a lack of confidence in the company's short-term prospects, potentially negatively impacting the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Signet Jewelers' director sold 5,000 shares at $70 each. The company recently lowered its FY24 guidance below consensus.
The insider sale, combined with the lowered guidance, could indicate a lack of confidence in the company's short-term prospects, potentially negatively impacting the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Halliburton's EVP and CFO sold 66,589 shares at $35 each. The company plans to sign a long-term strategic pact with Var Energi ASA for drilling services.
While the insider sale could be seen as a negative signal, the planned strategic pact could potentially offset this and have a neutral impact on the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Commercial Metals' SVP Operations sold 5,000 shares at $52.96 each. UBS initiated coverage on the company with a Buy rating and a price target of $63.
Despite the insider sale, the positive analyst rating and price target from UBS could indicate a positive outlook for the company, potentially positively impacting the stock price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100