Archer-Daniels-Midland, Morningstar And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
The Nasdaq 100 closed lower by over 80 points on Thursday. Notable insider sales were reported for Kirby Corporation, Group 1 Automotive, Archer-Daniels-Midland, and Morningstar. Insider sales can indicate concerns about a company's prospects or that the stock is overpriced.
May 24, 2024 | 12:27 pm
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NEGATIVE IMPACT
Archer-Daniels-Midland VP and Corp. Controller Fruit Molly L Strader sold 6,904 shares at an average price of $60.73, totaling around $419,280. The company recently reported better-than-expected Q1 earnings.
The insider sale by a VP, despite strong Q1 earnings, could indicate concerns about future performance or that the stock is currently overvalued.
CONFIDENCE 70
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Group 1 Automotive SVP and CFO Daniel James McHenry sold 2,437 shares at an average price of $309.61, totaling around $754,520. The company recently approved a $250 million share repurchase and declared a quarterly dividend.
The insider sale by the CFO, despite positive corporate actions like share repurchase and dividend, could indicate concerns about future performance or overvaluation.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Kirby Corporation Director Richard J Alario sold 2,500 shares at an average price of $121.39, totaling around $303,475. Despite recent better-than-expected Q1 EPS and sales, the insider sale might indicate concerns or overvaluation.
The insider sale by a director, despite strong Q1 results, could indicate concerns about future performance or that the stock is currently overvalued.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Morningstar Executive Chairman Joseph D Mansueto sold 13,009 shares at an average price of $299.03, totaling around $3.89 million. The company recently appointed Rod Diefendorf as the next leader of PitchBook.
The insider sale by the Executive Chairman, despite new leadership at PitchBook, could indicate concerns about future performance or that the stock is currently overvalued.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85