Top insider trades (Fri, Mar 6)

Connor’s Commentary

There were 284 new insider trades filed.

Five insider trades were flagged as High Signal, and one was added to the Portfolio. 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.

• Director (Meister Keith A.) at GeneDx Holdings Corp. $WGS purchased $13.46M (3rd largest purchase, out of 17). Dip Buy: the stock was down -52% in the previous 3 months.

• Director (BARAKETT TIMOTHY R) at KKR & Co. Inc. $KKR purchased $4.72M (2nd largest purchase, out of 3). This increased their listed holdings by 21%. Dip Buy: the stock was down -26% in the previous 3 months. 4 other insiders also purchased the stock in the last 30 days.

• Director (KLINSKY STEVEN B) at New Mountain Finance Corp $NMFC purchased $3.52M (6th largest purchase, out of 43). 3 other insiders also purchased the stock in the last 30 days.

• Director (Mateen Justin) at American Bitcoin Corp. $ABTC purchased $1.85M (first-ever purchase). This increased their listed holdings by 248%. Dip Buy: the stock was down -54% in the previous 3 months.

• See Remarks at SLR Investment Corp. $SLRC purchased $1.55M (3rd largest purchase, out of 24). Their last purchase was 726 days ago. 1 other insider also purchased the stock in the last 30 days.

• Director (STALLINGS ROBERT W) at TEXAS CAPITAL BANCSHARES INC/TX $TCBI purchased $1.00M (9th largest purchase, out of 121). This insider has purchased the stock 7 times in the last 30 days. Appears to be regularly scheduled weekly transaction.

• Director (CHERUVATATH NANDAKUMAR) at HEICO CORP $HEI, HEI.A purchased $999.90K (first-ever purchase). This increased their listed holdings by 1,200%.

• CEO and President at TUTOR PERINI CORP $TPC purchased $732.37K (largest purchase ever, out of 4). This increased their listed holdings by 12%. Dip Buy: the stock was down -17% in the previous week.

• Director (Buckley Mortimer J) at BOEING CO $BA purchased $499.97K (largest purchase ever, out of 2). This increased their listed holdings by 101%.

• Director (Venturelli Larry M) at GRAPHIC PACKAGING HOLDING CO $GPK purchased $199.19K (2nd largest purchase, out of 3). Dip Buy: the stock was down -56% in the previous year. Reversal: they made 1 straight sales before this purchase. Their last purchase was 2178 days ago. 1 other insider also purchased the stock in the last 30 days.

• Chief Executive Officer at Eos Energy Enterprises, Inc. $EOSE purchased $157.26K (2nd largest purchase, out of 8). Dip Buy: the stock was down -48% in the previous month. 1 other insider also purchased the stock in the last 30 days.

• Director (Barmonde Charles L.) at E.W. SCRIPPS Co $SSP purchased $156.32K (largest purchase ever, out of 6). Rip Buy: the stock was up 160% in the previous year. Their last purchase was 733 days ago. 4 other insiders also purchased the stock in the last 30 days.

• EXEC CHAIR, CTO. at CLEAN HARBORS INC $CLH sold $29.27M (largest sale ever, out of 37). 4 other insiders also sold the stock in the last 30 days. Appears to be regularly scheduled yearly transaction.

• Chairman and CEO at COCA COLA CO $KO sold $19.84M (2nd largest sale, out of 21). This decreased their listed holdings by -40%. 5 other insiders also sold the stock in the last 30 days. Appears to be regularly scheduled yearly transaction.

• Director (Loboa Elizabeth G) at APPLIED OPTOELECTRONICS, INC. $AAOI sold $9.80M (largest sale ever, out of 4). This decreased their listed holdings by -83%. Rip Sell: the stock was up 162% in the previous month. 4 other insiders also sold the stock in the last 30 days.

• Director (Will W Anthony) at CF Industries Holdings, Inc. $CF sold $7.01M (5th largest sale, out of 10). This decreased their listed holdings by -24%. Rip Sell: the stock was up 33% in the previous 3 months. 6 other insiders also sold the stock in the last 30 days.

• Co-President at BANK OF AMERICA CORP /DE/ $BAC sold $6.86M (largest sale ever, out of 4). This decreased their listed holdings by -19%. Their last sale was 958 days ago.

• Director (ANDERSON DARCY) at COMFORT SYSTEMS USA INC $FIX sold $6.16M (largest sale ever, out of 9). This decreased their listed holdings by -19%. Rip Sell: the stock was up 25% in the previous month. 8 other insiders also sold the stock in the last 30 days.

• Chief Technology Officer at GigaCloud Technology Inc $GCT sold $4.34M (largest sale ever, out of 5). This decreased their listed holdings by -12%. Rip Sell: the stock was up 27% in the previous week. Their last sale was 441 days ago. 1 other insider also sold the stock in the last 30 days.

• PRESIDENT & CEO at NEW YORK TIMES CO $NYT sold $4.14M (largest sale ever, out of 15). This decreased their listed holdings by -18%. Rip Sell: the stock was up 20% in the previous month. 4 other insiders also sold the stock in the last 30 days.

• and more…

Commentary

Happy Friday! Let’s do an update on the CEO Watcher data.

This was our first big week of underperformance in the CEO Watcher portfolio. We are down 4.11% v the S&P at -0.7%. Our handful of software names held up fine, but everything else got hammered.

That drops us back below 20 points of outperformance since starting the portfolio at the very end of October, but we are still crushing the S&P with returns of +17.45% v -0.81%.

Our High Signal List fared a bit better than the portfolio, but still slightly underperformed the S&P over the last week.

Overall, the High Signal List has maintained very strong performance since we started it on September 25th. Nearly 65% of the stocks on the list are outperforming the S&P, and the average stock is outperforming the S&P by over 8 points.

Our favorite insider sentiment score has actually reversed after a few months of steady decline.

Obviously, this war combat operation in Iran is the major variable right now, but many insiders have been buying the dips in their stocks over the last few months, which is turning the insider sentiment around.

The S&P looks much less optimistic, as it has officially rolled over.

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