Top insider trades (Fri, Apr 10)

Connor’s Commentary

There were 97 new insider trades filed.

No insider trades were flagged as High Signal, but I shared updated notes on Nike’s (NKE) insider purchase from yesterday and Lamb Weston (LW), where we have now seen three insider purchases this week.

CEO Watcher Premium subs can see those in the Trade Notes section of this email (just scroll down).

As a reminder, if you upgrade to CEO Watcher Premium (link) and find that it isn’t for you, I’ll give you a refund.

• 10% Owner (DART KENNETH BRYAN) at Flutter Entertainment plc $FLUT purchased $44.30M (first purchase of FLUT). Dip Buy: the stock was down -51% in the previous 3 months. This insider has purchased the stock 16 times in the last 30 days.

• Director (JANA Partners Management, LP) at Lamb Weston Holdings, Inc. $LW purchased $5.56M (7th largest purchase, out of 12). 2 other insiders also purchased the stock in the last 30 days.

• Director (Talwar Harit) at Better Home & Finance Holding Co $BETR purchased $164.43K (2nd largest purchase, out of 3). This increased their listed holdings by 15%. Rip Buy: the stock was up 248% in the previous year. 5 other insiders also purchased the stock in the last 30 days.

• Director (Hope James D) at Core & Main, Inc. $CNM purchased $99.97K (4th largest purchase, out of 7). This increased their listed holdings by 39%.

• President at NEONC TECHNOLOGIES HOLDINGS, INC. $NTHI purchased $82.00K (3rd largest purchase, out of 7). Dip Buy: the stock was down -36% in the previous month. This insider has purchased the stock 2 times in the last 30 days.

• Chief Financial Officer at Concentrix Corp $CNXC purchased $69.87K (2nd largest purchase, out of 2). Dip Buy: the stock was down -34% in the previous 3 months. Their last purchase was 1365 days ago. 1 other insider also purchased the stock in the last 30 days.

• Chief Executive Officer at Baozun Inc. $BZUN purchased $60.05K. 1 other insider also purchased the stock in the last 30 days.

• Director (Crestview Partners II GP, L.P.) at Select Water Solutions, Inc. $WTTR sold $46.81M (7th largest sale, out of 25). Rip Sell: the stock was up 30% in the previous 3 months.

• CEO at JABIL INC $JBL sold $2.71M (5th largest sale, out of 34). Rip Sell: the stock was up 134% in the previous year. 5 other insiders also sold the stock in the last 30 days.

• EVP, Global Business Units at JABIL INC $JBL sold $2.03M (4th largest sale, out of 34). Rip Sell: the stock was up 134% in the previous year. 5 other insiders also sold the stock in the last 30 days.

• Chief Financial Officer at Hafnia Ltd $HAFN sold $739.80K (first-ever sale). This decreased their listed holdings by -49%. Rip Sell: the stock was up 50% in the previous 3 months.

• President, Europe at TD SYNNEX CORP $SNX sold $605.42K (largest sale ever, out of 3). This decreased their listed holdings by -21%. Rip Sell: the stock was up 29% in the previous month. 1 other insider also sold the stock in the last 30 days.

• Vice President at Afya Ltd $AFYA sold $399.96K (first-ever sale). This decreased their listed holdings by -62%. 2 other insiders also sold the stock in the last 30 days.

• Head of Energy Transition at DORIAN LPG LTD. $LPG sold $355.04K (4th largest sale, out of 6). Rip Sell: the stock was up 114% in the previous year. Their last sale was 855 days ago.

• Director (Cline Brenda A) at RANGE RESOURCES CORP $RRC sold $310.83K (7th largest sale, out of 7). 4 other insiders also sold the stock in the last 30 days.

• Chief Compliance Officer at Global Ship Lease, Inc. $GSL sold $296.23K (first-ever sale). This decreased their listed holdings by -100%. Rip Sell: the stock was up 110% in the previous year. 1 other insider also sold the stock in the last 30 days.

• and more…

Commentary

The CEO Watcher Portfolio was the unfortunate recipient of a $500 error on my part. Instead of placing a very small $5,000 purchase in my personal account, I accidentally placed the trade in the CEO Watcher Portfolio.

Because of a lack of liquidity pre-market and the market opening down on the day I placed the bet, by the time I noticed the mistake and sold the stock, I had lost $500.

Of course, the stock was up to $9.70 just a few days later and is currently sitting at $9.30. So I am actually up on the trade in my personal account, but down 10% in the CEO Watcher Portfolio.

While the $500 loss doesn’t affect my overall portfolio, it is a pretty massive 5% decline in the CEO Watcher Portfolio, which is unfortunate.

In the long term, it won’t matter much, but it currently makes the portfolio's performance look quite a bit worse than it actually is.

Overall, we are still outperforming the S&P by 4.3% since starting the CEO Watcher portfolio, but it’d be more like 9% without the error.

High Signal List

The High Signal List underperformed the S&P pretty handily this week. This is bound to happen anytime semiconductors lead the charge (the semiconductor ETF is up 13% this week!) as CEO Watcher has virtually zero exposure to that industry (because the insiders are never buying).

You’ll have to get your tech exposure elsewhere!

Overall, the High Signal List is still outperforming the S&P by nearly 4% since it was started in September.

The S&P

Wednesday’s gap up erased about half of the S&P’s losses and pushed it above all moving averages.

There are still concerns that the Iran ceasefire will fall apart, but the S&P doesn’t appear concerned at the moment.

Oil and stocks have both been rising since the open on Wednesday, so one of them has to be wrong.

Have a great weekend!

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