DoorDash, Wynn Resorts And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
The article discusses notable insider sales for four companies: Wynn Resorts, Morningstar, DoorDash, and Hanover Insurance Group. Insider sales can indicate various factors, including concerns about the company's prospects or the stock being overpriced. The article provides details on the sales and recent developments for each company.
May 29, 2024 | 12:21 pm
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NEGATIVE IMPACT
DoorDash General Counsel and Secretary Tia Sherringham sold 11,740 shares at an average price of $110.46, totaling around $1.3 million. The company recently reported quarterly losses that missed analyst estimates.
The insider sale combined with recent quarterly losses missing estimates could negatively impact investor sentiment.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEUTRAL IMPACT
Morningstar Executive Chairman Joseph D Mansueto sold 6,197 shares at an average price of $297.28, totaling around $1.84 million. The company recently appointed Rod Diefendorf as the next leader of PitchBook.
The insider sale might be seen as a negative signal, but the appointment of new leadership at PitchBook could be viewed positively.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
Hanover Insurance Group Director Jane D Carlin sold 1,119 shares at an average price of $132.25, totaling around $147,987. The company recently posted upbeat quarterly earnings.
The insider sale might raise some concerns, but the recent upbeat quarterly earnings could mitigate negative sentiment.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 60
NEUTRAL IMPACT
Wynn Resorts Director Betsy S Atkins sold 2,446 shares at an average price of $94.39, totaling around $230,878. Despite the sale, Argus Research recently upgraded the stock to Buy with a $110 price target.
The insider sale might raise concerns, but the recent upgrade by Argus Research to Buy with a higher price target could offset negative sentiment.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80