Monday, September 1, 2014

Insiders Sold Shares of High-Profile Companies This Week

With the surging stock market in rally and holiday mode this past week, the pace and volume dropped to the usual levels expected as summer comes to a close. This certainly didn’t prevent insiders at some of the top firms on Wall Street from selling shares. 24/7 Wall St. wanted to offer readers a review of who has been selling while they enjoy the long holiday weekend.
Insider selling is significant, but it is not always a warning sign. Many top company officials sell stock for diversification, to expand their portfolios or to make other capital expenditures and purchases. With that in mind, if top company officials are selling stock that has made headlines with issues and problems, investors should take note.
Southwest Airlines Co. (NYSE: LUV) has had a fantastic year, and it rewarded shareholders by trading to record highs. This prompted the CEO, COO and an executive vice president to sell a total of 288,683 shares at prices that ranged from $31.22 to $31.41. The trades totaled $9 million. While a significant sell, many analysts on Wall Street remain very positive on the airline. Shares were trading at Friday’s close at $32.01.

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