Top insider trades (Fri, Aug 21)

Today’s Largest Unscheduled Trades

There were 238 new insider trades filed.

1 insider trade was flagged as High Signal. It’s an interesting situation: the company spun off one of its businesses (which muddied the numbers until the next earnings release), and it sold off on earnings because its first rev guidance was below street expectations (driven entirely by losing a single low-margin customer). However, it is still growing faster than peers, at a lower valuation, and now has easier comps in H2’27.

Our system gave high scores to 1 insider purchase (I shared our system’s notes on those in the High Scoring Purchases - Quick Notes).

We also found 2 insider purchases from insiders who average 20%+ 1y returns.

CEO Watcher Premium subs can see all of these notes in later sections of this email.

Today’s most interesting unscheduled insider trades:

• 10% Owner (PAINE SCHWARTZ FOOD CHAIN FUND V GP, LTD.) at SUJA LIFE, INC. $SUJA purchased $4.06M (largest purchase ever, out of 3). Dip Buy: the stock was down -54% in the previous 3 months. 1 other insider also purchased the stock in the last 30 days.

• Director (Courtis Kenneth S.) at Alpha Metallurgical Resources, Inc. $AMR purchased $2.90M (4th largest purchase, out of 13). Rip Buy: the stock was up 35% in the previous month.

• Director (POLSKY LISA) at Pershing Square USA, Ltd. $PSUS purchased $243.68K (largest purchase ever, out of 4).

• Chief Executive Officer at Rain Enhancement Technologies Holdco, Inc. $RAIN purchased $104.22K. This increased their listed holdings by 17%. Dip Buy: the stock was down -51% in the previous month.

• Director (Sjoqvist Nikolaj H) at WW INTERNATIONAL, INC. $WW purchased $100.13K (largest purchase ever, out of 2). This increased their listed holdings by 58%. Dip Buy: the stock was down -57% in the previous year.

• Chief Operating Officer at Keel Infrastructure Corp. $KEEL purchased $100.00K (2nd largest purchase, out of 2). This increased their listed holdings by 43%. Dip Buy: the stock was down -25% in the previous month. 1 other insider also purchased the stock in the last 30 days.

• Director (Asmar Christian) at MARRIOTT VACATIONS WORLDWIDE Corp $VAC sold $83.62M (first-ever sale). This decreased their listed holdings by -18%. Rip Sell: the stock was up 58% in the previous 3 months. Reversal: they made 2 straight purchases before this sale. 1 other insider also sold the stock in the last 30 days.

• EVP and Chief Business Officer at MICRON TECHNOLOGY INC $MU sold $14.01M (largest sale ever, out of 25). Rip Sell: the stock was up 12% in the previous month. 2 other insiders also sold the stock in the last 30 days.

• President & CEO at Eton Pharmaceuticals, Inc. $ETON sold $6.09M (largest sale ever, out of 3). Rip Sell: the stock was up 45% in the previous month.

• CHAIRMAN, PRESIDENT & CEO at ECOLAB INC. $ECL sold $5.00M (5th largest sale, out of 14). This decreased their listed holdings by -19%. 2 other insiders also sold the stock in the last 30 days.

• 10% Owner (Voss Capital, LP) at Flywire Corp $FLYW sold $1.93M (first-ever sale). Rip Sell: the stock was up 67% in the previous 6 months. Reversal: they made 2 straight purchases before this sale. 1 other insider also sold the stock in the last 30 days.

Today’s largest unscheduled insider trades:

• 10% Owner (CASCADE INVESTMENT, L.L.C.) at REPUBLIC SERVICES, INC. $RSG purchased $83.40M (5th largest purchase, out of 350). This insider has purchased the stock 4 times in the last 30 days.

• Director (Apeiron Investment Group Ltd.) at Enhanced Group Inc. $ENHA purchased $2.94M (4th largest purchase, out of 15). Dip Buy: the stock was down -47% in the previous month. This insider has purchased the stock 3 times in the last 30 days.

• Director (Kalathur Rajesh) at BORGWARNER INC $BWA purchased $500.66K (largest purchase ever, out of 2).

• Director (KELTER JEFFREY E) at Bridger Aerospace Group Holdings, Inc. $BAER purchased $354.05K (2nd largest purchase, out of 2). This increased their listed holdings by 15%. Dip Buy: the stock was down -40% in the previous month.

• Director (Levinson Sam) at Clipper Realty Inc. $CLPR purchased $310.59K (17th largest purchase, out of 35). This insider has purchased the stock 2 times in the last 30 days.

• Director (Tansey Casey M) at Mobia Medical, Inc. $MOBI purchased $198.52K (5th largest purchase, out of 5). This insider has purchased the stock 2 times in the last 30 days.

• N/A at PIMCO Dynamic Income Strategy Fund $PDX purchased $131.05K (3rd largest purchase, out of 6). 1 other insider also purchased the stock in the last 30 days.

• Director (ROEDER DOUGLAS A) at Senseonics Holdings, Inc. $SENS purchased $125.30K (5th largest purchase, out of 7). Rip Buy: the stock was up 72% in the previous month.

• Director (Morais Diane E.) at FIRST CITIZENS BANCSHARES INC /DE/ $FCNCA purchased $108.41K (first-ever purchase). This increased their listed holdings by 100%.

• Director (Denny Michael B.) at FIRST FINANCIAL BANKSHARES INC $FFIN purchased $103.98K (5th largest purchase, out of 20). Their last purchase was 432 days ago. 1 other insider also purchased the stock in the last 30 days.

• 10% Owner (DST Global Advisors Ltd) at Chime Financial, Inc. $CHYM sold $156.93M (largest sale ever, out of 8). Rip Sell: the stock was up 50% in the previous month. 4 other insiders also sold the stock in the last 30 days.

• Director (Sousa Mauad Bruno) at Aura Minerals Inc. $AUGO sold $22.87M (largest sale ever, out of 4). Rip Sell: the stock was up 71% in the previous month. Reversal: they made 2 straight purchases before this sale. 2 other insiders also sold the stock in the last 30 days.

• 10% Owner (Baroda Ventures LLC) at MNTN, Inc. $MNTN sold $3.51M (2nd largest sale, out of 3). Rip Sell: the stock was up 44% in the previous month. This insider has sold the stock 2 times in the last 30 days.

• President & CEO at ARTIVION, INC. $AORT sold $2.03M (2nd largest sale, out of 13). 3 other insiders also sold the stock in the last 30 days.

• Director (KUOK Khoon Hua) at Sea Ltd $SE sold $2.02M (first-ever sale). Rip Sell: the stock was up 12% in the previous month. 7 other insiders also sold the stock in the last 30 days.

• Director (Stull Steven T) at CORPAY, INC. $CPAY sold $1.91M (19th largest sale, out of 22). This decreased their listed holdings by -13%. Their last sale was 4118 days ago. 2 other insiders also sold the stock in the last 30 days.

• CEO, PSS Segment at CARDINAL HEALTH INC $CAH sold $1.73M (3rd largest sale, out of 4). Rip Sell: the stock was up 55% in the previous year. 5 other insiders also sold the stock in the last 30 days.

• Chief Legal Officer & Secy at PROCTER & GAMBLE Co $PG sold $1.24M. This decreased their listed holdings by -19%.

• Director (ROSENBLOOM KEITH M) at AMERICAN VANGUARD CORP $AVD sold $1.22M (first-ever sale). This decreased their listed holdings by -87%. Dip Sell: the stock was down -58% in the previous 6 months. Reversal: they made 8 straight purchases before this sale.

• EVP, Chief Admin. Officer & GC at Matson, Inc. $MATX sold $1.10M (5th largest sale, out of 15). This decreased their listed holdings by -19%. Rip Sell: the stock was up 116% in the previous year. 7 other insiders also sold the stock in the last 30 days.

• Director (Pereira Brian JG) at PROKIDNEY CORP. $PROK sold $1.07M (8th largest sale, out of 14). This decreased their listed holdings by -100%.

• Director (PERRY MICHAEL S) at ARROWHEAD PHARMACEUTICALS, INC. $ARWR sold $1.01M (4th largest sale, out of 6). Rip Sell: the stock was up 24% in the previous month. 1 other insider also sold the stock in the last 30 days.

• EVP - Chief Operating Officer at CBL & ASSOCIATES PROPERTIES INC $CBL sold $1.00M (first-ever sale). This decreased their listed holdings by -11%. Rip Sell: the stock was up 53% in the previous 6 months. Reversal: they made 1 straight purchases before this sale.

• and more…

CEO Watcher Updates

Not a great week for the CEO Watcher Portfolio as it underperformed the S&P by 2x.

However, it is still outperforming the S&P by 3x since we started it at the end of October.

The only industries up this week were defensive names (REITs, gold, energy, healthcare) and biotech (because of Moderna news). We own very, very little of any of those, so the underperformance makes sense.

High Signal List

The High Signal List held up a little bit better, only slightly underperforming the S&P over the last week.

Overall, the High Signal List is outperforming the S&P by ~2x since we started the list in September.

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