TD SYNNEX, Berkshire Hills Bancorp And 2 Other Stocks Insiders Are Selling

Author: Avi Kapoor | February 06, 2024 02:38pm

The Nasdaq Composite closed lower by around 0.2% on Monday. Investors, meanwhile, focused on some notable insider trades.

When insiders sell shares, it could be a preplanned sale, or could indicate their concern in the company’s prospects or that they view the stock as being overpriced. Insider sales should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a selling decision.

Below is a look at a few recent notable insider sales. For more, check out Benzinga's insider transactions platform.

TD SYNNEX

• The Trade: TD SYNNEX Corporation (NYSE:SNX) CEO Richard T Hume sold a total of 10,000 shares at an average price of $100.30. The insider received around $1,002,982 from selling those shares.
• What’s Happening: TD SYNNEX announced pricing of secondary public offering of 7.625 million shares of common stock and concurrent share repurchase.
• What TD SYNNEX Does: TD Synnex Corp is a distributor and solutions aggregator for the IT ecosystem.

Have a look at our premarket coverage here

BurgerFi International

• The Trade: BurgerFi International, Inc. (NASDAQ:BFI) 10% owner John Rosatti Revocable Trust sold a total of20,000 shares at an average price of $0.59. The insider received around $11,706 from selling those shares.
• What’s Happening: BurgerFi International clocked fourth-quarter preliminary revenue of $42 million.
• What BurgerFi International Does: BurgerFi International Inc operates a fast food restaurant chain in domestic and international market. The company has approximately 114 BurgerFi restaurants.

Berkshire Hills Bancorp

• The Trade: Berkshire Hills Bancorp, Inc. (NYSE:BHLB) Director Michael Zaitzeff sold a total of 50,375 shares at an average price of $22.96. The insider received around $1,156,799 from selling those shares.
• What’s Happening: Keefe, Bruyette & Woods analyst Christopher O'Connell recently maintained Berkshire Hills Bancorp with a Market Perform and raised the price target from $24 to $25.
• What Berkshire Hills Bancorp Does: Berkshire Hills Bancorp Inc is a holding company. It offers deposit, lending, investment, wealth management, and insurance services.

Wayfair

• The Trade: Wayfair Inc. (NYSE:W) Director Anke Schaferkordt sold a total of 422 shares at an average price of $49.12. The insider received around $20,730 from selling those shares.
• What’s Happening: Wayfair recently announced a workforce realignment plan.
• What Wayfair Does: Wayfair engages in e-commerce in the United States (86% of 2022 sales), Canada, the United Kingdom, Germany, and Ireland.

 

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Posted In: BFI BHLB SNX W