Top insider trades (Fri, Feb 13)

Connor’s Commentary

There were 178 new insider trades filed.

Three insider trades were flagged as High Signal. CEO Watcher Premium subs can see those in the Trade Notes section of this email or the CEO Watcher Premium Dashboard that is linked in the Data Dump section.

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.

• Pretty interesting insider buying at AMREP Corp (AXR). This 10% Owner bought non-stop in 2023 and 2024, then stopped until just now where they bought another $200k

• A director at Aon (AON) bought $1.28M of the stock. Smallest purchase ever (out of 13). Stock is down 10% after earnings.

• Director at S&P Global (SPGI) is buying the dip. $1M purchase (largest, out of 5). Stock is down 25% in the last month. It increased their listed holdings by 15%.

• Director at Avantor (AVTR) bought $940k (4th largest purchase, out of 9). Increased their listed holdings by 28%. Stock is down 30% in the last month.

• Another insider at Ralliant (RAL) bought $100k of the stock (first purchase ever).

• The CEO joins the CFO in buying Tectonic Therapeutic (TECX). The CEO bought $50k.

• Jana sells $32M of Mercury Systems (MRCY).

• The Co-Chairman at Charles Schwab (SCHW) sold $17M of the stock (36th largest sale, out of 202).

• The CEO at Encompass Health (EHC) sold $16.75M (largest sale ever, out of 8). This decreased their listed holdings by 28%.

• The CFO at Texas Instruments (TXN) sold $16M (largest sale ever, out of 8). This decreased their listed holdings by 38%. Their last sale was at the end of 2024.

• The CFO at Carnival PLC (CUK) sold $12M (largest sale ever, out of 46). This decreased their listed holdings by 76%. The stock is up 40% in the last year.

• and more…

Commentary

Sorry for the delayed email. I got distracted arguing about SaaS stocks on X this morning (I think many application SaaS companies will face significantly increased competition, leading to lower prices, slower growth, and narrower margins).

If you’d like to tell me why I’m wrong, please do so here.

Another tough week in the markets.

It looks like the CEO Watcher Portfolio will underperform the S&P this week. That’s what I get for trying to add a software name this week.

But we are still smoking it since starting the portfolio at the end of October.

The High Signal Watchlist continues to outperform the S&P significantly as well. We also added quite a few stocks to the list this week as we found a bunch of compelling insider dip buys.

Our favorite insider sentiment indicator continues to fall off a cliff. We still aren’t close to falling below the “bullish” threshold, but it’s definitely trending in the wrong direction.

SPY continues to struggle to break above 700, with its third failure already this year.

We also see that the best-performing industries over the last month are mostly risk-off industries.

While the risk-on industries are getting smoked.

The only saving grace is that our High Signal Dip Buy List is getting massive.

A lot of insiders are buying the dip, and historically, dip buying is a great signal.

The Dip Buy list is always available for Premium Subscribers in the Data Dump section of this email. It’s also in the CEO Watcher Premium Dashboard, which is linked at the top of the Dip Buy section.

Have a great weekend.

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.

keep scrolling. top trades + all of the charts and data below

CEO Watcher Premium

The rest of this email (including today’s top insider trades + all the charts and data) is for CEO Watcher Premium subscribers only. To see an example of the Premium email, click here.

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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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