Investing

Massive Restaurant Trades Highlight Insider Selling: BJ's Restaurants, Darden Restaurants, Delta Air Lines and More

Lee Jackson

Published: March 6, 2016 10:45 am

Last Updated: January 13, 2020 12:19 pm

For the second week in a row, the insiders at major companies have decided that the markets have moved high enough that it is time to take some money off the table. As we reported through most of the first two months of 2016, insider selling was virtually nonexistent, as the selling to start the year rivaled any sell-offs on record. With major averages almost 10% higher that the intra-day lows printed in mid-February, sellers are finally hitting the bid.

We cover insider selling every week at 24/7 Wall St., and we like to remind readers that just because an individual or 10% institutional owner is selling stock, that is no cause for immediate alarm. Many top executives, and even directors, are compensated with stock and often sell just to diversify or purchase other assets.

Here are companies that reported notable insider selling this past week.

BJ’s Restaurants Inc. (NASDAQ: BJRI) had a big seller on the desk last week. A director at the company sold a total of 695,828 shares of the stock at prices that ranged from $43.33 to $44.91. That netted the director a whopping $30 million. The company operates 172 casual dining restaurants located in the 22 states under the BJ’s Restaurant & Brewery, BJ’s Restaurant & Brewhouse, BJ’s Pizza & Grill and BJ’s Grill brand names. The shares closed Friday at $46.29, so a touch early perhaps.

24/7 Wall St.
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