Top insider trades (Fri, Apr 24)

Connor’s Commentary

There were 69 new insider trades filed.

No insider trades were flagged as High Signal, but I share brief notes on a couple of insider purchases. CEO Watcher Premium subs can see those in the Trade Notes section of this email (just scroll down).

We also look at the CEO Watcher Performance from this week in the commentary section (free for all readers).

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 (Nexus Capital Management LP) at Laird Superfood, Inc. $LSF purchased $60.00M. This increased their listed holdings by 120%. Rip Buy: the stock was up 24% in the previous month. 1 other insider also purchased the stock in the last 30 days.

• 10% Owner (DART KENNETH BRYAN) at Flutter Entertainment plc $FLUT purchased $16.02M. Dip Buy: the stock was down -39% in the previous 3 months. This insider has purchased the stock 16 times in the last 30 days. Is part of a dividend reinvestment.

• Chief Executive Officer at REZOLVE AI PLC $RZLV purchased $3.25M.

• EVP-N.A. Muncipal Utility at BADGER METER INC $BMI purchased $122.35K (2nd largest purchase, out of 2). Dip Buy: the stock was down -24% in the previous week. 4 other insiders also purchased the stock in the last 30 days.

  Chief Financial Officer at Travel & Leisure Co. $TNL purchased $65.67K (first-ever purchase).

• Director (FLUOR CORP) at NUSCALE POWER Corp $SMR sold $159.42M (4th largest sale, out of 11). This decreased their listed holdings by -100%. Dip Sell: the stock was down -41% in the previous 3 months. 15 other insiders also sold the stock in the last 30 days.

• Director (Chen Jeffrey) at ASE Technology Holding Co., Ltd. $ASX sold $12.76M (largest sale ever, out of 4). Rip Sell: the stock was up 38% in the previous month. 1 other insider also sold the stock in the last 30 days. Appears to be regularly scheduled weekly transaction.

• Chief Visionary Officer at Everpure, Inc. $P sold $12.02M (2nd largest sale, out of 18). 11 other insiders also sold the stock in the last 30 days. Part of a 10b5-1 plan.

• Chairman and CEO at SBC Medical Group Holdings Inc $SBC sold $9.37M. Dip Sell: the stock was down -21% in the previous week. Is part of a public offering.

• SVP-CHIEF DEVELOPMENT OFFICER at SANGAMO THERAPEUTICS, INC $SGMO sold $89.18K. This decreased their listed holdings by -50%. Dip Sell: the stock was down -21% in the previous month. 1 other insider also sold the stock in the last 30 days.

• and more…

Commentary

Happy Friday. Let’s take a look at the updated CEO Watcher data from this week.

CEO Watcher Portfolio

It was a pretty good week for the CEO Watcher Portfolio. We are up 2.78% v -0.25% for the S&P.

This was led by a monster earnings beat from Travelzoo (TZOO) as their turnaround continues to make progress (this is one of the names I own in my personal portfolio as well).

Unfortunately, ServiceNow (NOW) got smoked after earnings, which sent the rest of the software industry tumbling (its worst day since COVID).

TravelZoo (TZOO) gave back nearly half of its gains due to the negative sentiment in the industry, but it at least offset the losses from the five or six other software names we own.

Overall, the CEO Watcher portfolio is nearing 10% outperformance v the S&P since we started it at the end of October (+13.10% v 3.16%).

As a reminder, I made a mistake a couple of weeks ago that cost the portfolio $500. I placed a large (relative to the CEO portfolio) pre-market purchase that was intended for my personal portfolio. By the time I realized and sold it, I lost $500. The actual portfolio performance is more like 18% if you exclude that error.

CEO Watcher High Signal List

The High Signal List (which includes all stocks we’ve marked as high signal, even if we didn’t add them to the portfolio) also had a solid week.

The 159 stocks on the list were up an average of 0.89% v -0.12% for the S&P and 57% of the stocks on the list outperformed the S&P.

Overall, the stocks on the High Signal List have now outperformed the S&P 10.98% v 4.35% since starting the list on September 25th.

The average max return of the stocks on the list is 28% (v 4.78% for the S&P).

Insider Sentiment and the S&P

Insider sentiment dipped when the Iran War began, but recovered quickly.

We remain below our “Very Bullish” threshold, but have been creeping in that direction for the last couple of weeks.

The S&P flagged sideways this week after two weeks of going straight up. It’s still well above all of the moving averages, so I wouldn’t be terribly surprised to see another flat week next week before the market decides which direction to head.

The rest of this email is for premium subscribers only.

CEO Watcher Premium

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• The Premium Dashboard, which has a bunch of charts/tables with insider trading data that is updated each day

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