Top insider trades (Fri, Jul 10)

Today’s Largest Unscheduled Trades

There were 116 new insider trades filed.

No insider trades were flagged as High Signal, but I shared my notes on the recent insider purchase at Core & Main (CNM). It doesn’t quite have enough upside for me, but it is another example of an insider buying a stock punished by a weak real estate market. I’m keeping my eye on the housing market, as many of the cyclical housing-related stocks are looking quite interesting.

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

Today’s largest unscheduled insider trades:

• 10% Owner (Globalharvest Holdings Venture Ltd) at Mission Produce, Inc. $AVO purchased $15.81M (largest purchase ever, out of 15). This increased their listed holdings by 10%. Rip Buy: the stock was up 24% in the previous month. 2 other insiders also purchased the stock in the last 30 days.

• 10% Owner (Aqua Capital, Ltd.) at ENERGIZER HOLDINGS, INC. $ENR purchased $1.64M (2nd largest purchase, out of 10). This insider has purchased the stock 3 times in the last 30 days.

• President and CEO at ENERGY FUELS INC $UUUU purchased $967.92K (3rd largest purchase, out of 3). This increased their listed holdings by 40%. Rip Buy: the stock was up 149% in the previous year. 1 other insider also purchased the stock in the last 30 days.

• CEO at Navios Maritime Partners L.P. $NMM purchased $249.01K (27th largest purchase, out of 31). This insider has purchased the stock 7 times in the last 30 days. Part of a 10b5-1 plan. May be regularly scheduled weekly transaction.

• Director (HANSEN BRUCE D) at ENERGY FUELS INC $UUUU purchased $50.78K (9th largest purchase, out of 15). Rip Buy: the stock was up 142% in the previous year. Their last purchase was 475 days ago. 1 other insider also purchased the stock in the last 30 days.

• Executive Vice President at VIRCO MFG CORPORATION $VIRC purchased $48.50K (5th largest purchase, out of 16). 1 other insider also purchased the stock in the last 30 days.

• President and CEO at CASEYS GENERAL STORES INC $CASY sold $15.23M (largest sale ever, out of 6). This decreased their listed holdings by -16%. Their last sale was 385 days ago. 3 other insiders also sold the stock in the last 30 days.

• 10% Owner (Durable Capital Partners LP) at Andersen Group Inc. $ANDG sold $13.47M (7th largest sale, out of 30). This decreased their listed holdings by -20%. Rip Sell: the stock was up 40% in the previous 3 months. Reversal: they made 1 straight purchases before this sale.

• 10% Owner (Lightspeed Venture Partners IX, L.P.) at Netskope Inc $NTSK sold $2.80M (2nd largest sale, out of 2). Rip Sell: the stock was up 38% in the previous month. 1 other insider also sold the stock in the last 30 days.

• 10% Owner (Oasis Management Co Ltd.) at STRATUS PROPERTIES INC $STRS sold $1.62M (2nd largest sale, out of 26). This insider has sold the stock 2 times in the last 30 days.

• 10% Owner (SMOLYANSKY EDWARD) at Lifeway Foods, Inc. $LWAY sold $1.39M (3rd largest sale, out of 65). Rip Sell: the stock was up 29% in the previous month. 1 other insider also sold the stock in the last 30 days.

• Chief Human Resources Officer at Petco Health & Wellness Company, Inc. $WOOF sold $637.50K (first-ever sale). This decreased their listed holdings by -14%.

• 10% Owner (Lightspeed Venture Partners X, L.P.) at Navan, Inc. $NAVN sold $227.81K (4th largest sale, out of 4). Rip Sell: the stock was up 23% in the previous month. 4 other insiders also sold the stock in the last 30 days.

• and more…

CEO Watcher Weekly Overview

After a few strong weeks in a row, the CEO Watcher Portfolio took a loss this week and underperformed the S&P by over 2 points.

Overall, the portfolio is still outperforming the S&P by over 20 points since we started it at the end of October.

As a reminder, the portfolio performance is actually closer to 37% (+28 points of outperformance) because a couple of months ago, I accidentally placed a large purchase meant for my personal portfolio in the CEO Watcher Portfolio and had to sell during illiquid pre-market hours, which lost the portfolio 5%.

The underperformance this week was pretty widespread. Of the ~70 industries I track, only ~25% had positive returns this week, led by oil, biotech, and AI (3 industries we own very little of).

High Signal List

The High Signal List also underperformed this week. Only one new stock was added to the High Signal List. We are entering earnings season, so the insider trading will slow down until companies have reported and insiders are allowed to make discretionary trades again.

Overall, the stocks on the High Signal List are also significantly outperforming the S&P (20.27% v 9.36%).

Insider Sentiment

After a couple of weeks of falling sentiment, things have flattened out right in the middle of our “bullish” and “very bullish” thresholds.

The sentiment isn’t really notable until it breaks above the solid green “very bullish” line, and that doesn’t appear like it will happen anytime soon.

S&P Chart

The S&P chart continues to look like it wants to roll over. We’ll see if earnings season can save it.

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CEO Watcher Premium

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