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.
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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