Delta Air Lines, McDonald's And 2 Other Stocks Insiders Are Selling

Author: Avi Kapoor | April 24, 2024 08:10am

The Nasdaq 100 closed higher by around 1.5% on Tuesday. 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.

McCormick

• The Trade: McCormick & Company, Incorporated (NYSE:MKC) Chief Growth Officer Katherine Jenkins sold a total of 1,726 shares at an average price of $74.51. The insider received around $128,326 from selling those shares.
• What's Happening: On April 2, Argus Research analyst John Staszak upgraded McCormick & Co from Hold to Buy and announced an $88 price target.
• What McCormick Does: In its more than 130-year history, McCormick has grown to become the leading global manufacturer, marketer, and distributor of spices, herbs, extracts, seasonings, and other flavorings.

Have a look at our premarket coverage here

Verint Systems

• The Trade: Verint Systems Inc. (NASDAQ:VRNT) CEO and Chairman Dan Bodner sold a total of 35,039 shares at an average price of $30.00. The insider received around $1.05 million from selling those shares.
• What's Happening: On March 27, Verint Systems posted upbeat quarterly results.
• What Verint Does: Verint Systems Inc with its subsidiaries helps brands provide Boundless Customer Engagement.

Delta Air Lines

• The Trade: Delta Air Lines, Inc. (NYSE:DAL) President Glen W Hauenstein sold a total of 100,000 shares at an average price of $49.05. The insider received around $4.9 million from selling those shares.
• What's Happening: On April 10, Delta Air Lines reported better-than-expected first-quarter earnings.
• What Delta Air Lines Does: Atlanta-based Delta Air Lines is one of the world’s largest airlines, with a network of over 300 destinations in more than 50 countries.

McDonald’s

• The Trade: McDonald’s Corporation (NYSE:MCD) President, McDonald’s USA Joseph M. Erlinger sold a total of 1,098 shares at an average price of $276.64. The insider received around $303,751 from selling those shares.
• What's Happening: On April 16, Citigroup analyst Jon Tower maintained McDonald’s with a Neutral and lowered the price target from $312 to $297.
• What McDonald’s Does: McDonald’s is the largest restaurant owner-operator in the world, with 2023 system sales of $130 billion across nearly than 42,000 stores and 115 markets.

Check This Out: Tesla, Boeing And 3 Stocks To Watch Heading Into Wednesday

Posted In: DAL MCD MKC VRNT