Notable Sports Academy insider trades $ 6.3 million in company stock

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Guillaume Ennis, initiated to Sports academy (NASDAQ: ASO), made a large buy and sell of the company’s stock on Nov. 18, according to a new SEC filing.

What happened: A Form 4 filing from United States Securities Commission stipulate that Guillaume Ennis purchase options exercised 95,404 Sports academy shares at prices ranging from $ 16.48 to $ 16.70 per share for a total of $ 1,586,780 on November 18. They then sold their shares on the same day on the open market. They sold for prices ranging from $ 49.70 to $ 49.73 to raise a total of $ 4,741,772 through the sale of shares.

Following the operation, Ennis still owns 32,108 shares of the company, valued at $ 1,617,668.00.

Sports academy the shares are trading up 0.48% to $ 50.38 as of this writing on Monday morning.

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Why Insider Trading Matters

Insider trading should not be used primarily in making an investment decision, but an insider trading can be a big factor in the decision to invest.

In legal terms, an “insider” refers to any shareholder who owns at least 10% of a company. This can include senior executives and large hedge funds. These insiders are required to notify the public of their transactions via a Form 4, which must be filed within two business days of the transaction.

When a company insider makes a new purchase, it indicates that they expect the stock to rise.

Insider selling, on the other hand, can be done for a variety of reasons and doesn’t necessarily mean the seller thinks the stocks are going to go down.

Important transaction codes

Investors prefer to focus on transactions that take place in the open market, shown in Table I of the Form 4 filing. P in box 3 indicates a purchase, while S indicates a sale. Transaction code VS indicates the conversion of an option, and the transaction code A indicates that the insider may have been forced to sell shares in order to receive compensation that was promised to him when he was hired by the company.

Check out the full list of Academy Sports Insider Trades.

This article was generated by Benzinga’s automated content engine and edited by an editor.

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© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.


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