U.S. Corporate Insiders’ Stock Sales Turn Less Favorable
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U.S. companies and their executives are selling stocks at 2.2 times the pace of buying, the most since December 2009, as an equity rally pushed the Standard & Poor’s 500 Index to an almost four-year high.
About $15.3 billion of shares have been sold by companies and insiders this month, compared with $7.1 billion of purchases, according to TrimTabs Investment Research. Stock offerings reached $2.7 billion a day last week, the highest level since May, the data show. Simon Property Group Inc., the largest U.S. mall owner, announced its first stock offering in almost three years while Internet company Yelp Inc. went public.