Box, Wynn Resorts And 2 Other Stocks Insiders Are Selling
Portfolio Pulse from Avi Kapoor
The Nasdaq 100 closed higher by around 2.5% during Tuesday's session. Notable insider sales were observed in Wynn Resorts, Box, M&T Bank, and Mosaic. Insider sales can indicate concerns about a company's prospects or that the stock is overpriced. Wynn Resorts reported earnings that missed estimates, Box expanded its partnership with Slack, M&T Bank reported better-than-expected financial results, and Mosaic posted downbeat quarterly earnings.
August 14, 2024 | 12:34 pm
News sentiment analysis
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NEGATIVE IMPACT
Mosaic Director Kelvin R Westbrook sold 12,666 shares at $27.32 each, totaling $346,042. Mosaic recently posted downbeat quarterly earnings.
The insider sale combined with recent downbeat earnings could indicate potential short-term downward pressure on the stock.
CONFIDENCE 85
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Wynn Resorts Director Margaret Jane Myers sold 2,000 shares at $98.05 each, totaling $196,100. The company recently reported earnings that missed analyst estimates.
The insider sale combined with recent earnings that missed estimates could indicate potential short-term downward pressure on the stock.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Box CFO Dylan C Smith sold 13,000 shares at $27.05 each, totaling $351,676. Box recently expanded its partnership with Slack by launching Box AI in Slack.
The insider sale is notable, but the recent positive news about the partnership with Slack may offset any negative sentiment.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 70
NEUTRAL IMPACT
M&T Bank Sr. Executive VP Michael J. Todaro sold 4,791 shares at $162.57 each, totaling $778,897. The bank recently reported better-than-expected second-quarter financial results.
The insider sale is notable, but the recent positive financial results may mitigate any negative impact on the stock.
CONFIDENCE 75
IMPORTANCE 50
RELEVANCE 60