For the first time in 2 years insiders at Macy’s (M) are looking extremely bearish. Over the past three months insiders have sold $1.16M of their company shares, while the price has not even reached 50% of its two year high of $40. Notable sales:
– Thomas Cole (Chief Administrative Officer): sold $408.60K or 63% of his holdings
– Sara Levinson (Director): sold all of her shares worth $53.35K
– Tim Adams (Chief Private Brand Office): sold $174.98 or 41% of his holdings
While it’s never good to see insiders dump shares in their companies, but given the current bearish context of the market I am starting to feel very cautious.