Top insider trades (Fri, June 26)

Today’s Largest Unscheduled Trades

There were 99 new insider trades filed.

No insider trades were flagged as High Signal.

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 1 insider purchase from an insider who averages 20%+ 1y returns.

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

Today’s largest unscheduled insider trades:

• 10% Owner (DART KENNETH BRYAN) at Flutter Entertainment plc $FLUT purchased $34.50M. Dip Buy: the stock was down -55% in the previous 6 months. This insider has purchased the stock 9 times in the last 30 days.

• CHIEF EXECUTIVE OFFICER at PROSPECT CAPITAL CORP $PSEC purchased $2.43M (51st largest purchase, out of 221). This insider has purchased the stock 5 times in the last 30 days.

• Chief Executive Officer at Epsilon Energy Ltd. $EPSN purchased $265.18K (3rd largest purchase, out of 13).

• Chief Executive Officer at Pagaya Technologies Ltd. $PGY purchased $250.47K (3rd largest purchase, out of 3). Rip Buy: the stock was up 31% in the previous 3 months. This insider has purchased the stock 2 times in the last 30 days.

• CEO at Navios Maritime Partners L.P. $NMM purchased $248.96K (25th largest purchase, out of 28). This insider has purchased the stock 8 times in the last 30 days. Part of a 10b5-1 plan.

• Director (BRACKEN CHARLES H R) at Liberty Latin America Ltd. $LILA purchased $200.90K (first-ever purchase). This increased their listed holdings by 70%. Rip Buy: the stock was up 37% in the previous week. 3 other insiders also purchased the stock in the last 30 days.

• Director (Hudson Daniel Timothy) at HALLADOR ENERGY CO $HNRG purchased $86.52K (first-ever purchase). 1 other insider also purchased the stock in the last 30 days.

• President and CEO at LEAR CORP $LEA sold $6.77M (largest sale ever, out of 29). This decreased their listed holdings by -50%. 4 other insiders also sold the stock in the last 30 days.

• Director (Dhanidina Halim) at Fidelity National Financial, Inc. $FNF sold $3.99M (largest sale ever, out of 7). This decreased their listed holdings by -72%.

• Director (SHIFFMAN GARY A) at SUN COMMUNITIES INC $SUI sold $3.00M (3rd largest sale, out of 16). Reversal: they made 1 straight purchases before this sale. Their last sale was 1855 days ago. 1 other insider also sold the stock in the last 30 days.

• Director (KELLY JEFFREY D) at PROGRESSIVE CORP/OH/ $PGR sold $1.51M (3rd largest sale, out of 17). This decreased their listed holdings by -23%. Rip Sell: the stock was up 10% in the previous month. Their last sale was 510 days ago. 2 other insiders also sold the stock in the last 30 days.

• Director (DENMAN KENNETH D) at COSTCO WHOLESALE CORP /NEW $COST sold $847.35K (largest sale ever, out of 19). This decreased their listed holdings by -15%. Their last sale was 709 days ago.

• President, Natural & CSCO at UNITED NATURAL FOODS INC $UNFI sold $515.60K (largest sale ever, out of 2). This decreased their listed holdings by -16%. Rip Sell: the stock was up 51% in the previous 6 months. Their last sale was 495 days ago.

• Chief Financial Officer at J M SMUCKER Co $SJM sold $403.11K (5th largest sale, out of 8). 2 other insiders also sold the stock in the last 30 days.

• Sr VP & Chief Supply Chain Off at LA-Z-BOY INC $LZB sold $374.92K (largest sale ever, out of 3). This decreased their listed holdings by -15%. 2 other insiders also sold the stock in the last 30 days.

• Senior Vice President at AMERICAN FINANCIAL GROUP INC $AFG sold $312.33K (5th largest sale, out of 9). Their last sale was 842 days ago. 1 other insider also sold the stock in the last 30 days.

• See Remarks at KILROY REALTY CORP $NYSE: KRC sold $298.74K (5th largest sale, out of 9). Rip Sell: the stock was up 32% in the previous 3 months. 1 other insider also sold the stock in the last 30 days.

• Vice President and Secretary at RBC Bearings INC $RBC sold $148.04K (3rd largest sale, out of 9). 4 other insiders also sold the stock in the last 30 days.

• Former VP CAO and Controller at TEREX CORP $TEX sold $119.00K (2nd largest sale, out of 4). This decreased their listed holdings by -10%. Rip Sell: the stock was up 21% in the previous month. This insider has sold the stock 2 times in the last 30 days.

• and more…

CEO Watcher Update

The CEO Watcher Portfolio had a decent week, outperforming the S&P by over two points (+0.46% v -1.90%).

That brings our overall outperformance to +22 points.

As a reminder, the portfolio performance is actually closer to 34% (+27 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%.

CEO Watcher High Signal List

The High Signal List had an even better week than the CEO Watcher Portfolio, with over three points of outperformance.

That brings the average outperformance for the nearly 200 names we’ve added to the High Signal list since September to over 10 points.

Insider Sentiment

Insider sentiment has taken a dive over the last couple of months as the S&P has chopped around.

However, it is still well within its normal range, so I don’t think there is much signal there.

S&P Update

The S&P has run out of momentum, with the last two months looking pretty similar to the choppy period in November/December.

This was a good period for the CEO Watcher, as most High Signal insider purchases are at defensive/value stocks. Hopefully, it goes well going forward this time as well.

The rest of this email is for premium subscribers only.

CEO Watcher Premium

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