Top insider trades (Mon, Nov 3)

Connor’s Commentary

October ended as the most bullish month of insider trading since the Trump tariff dip in April brought in a couple of months of strong insider buying. A strong October has helped our rolling Insider Sentiment indicator to start creeping up again.

We’ve remained above the bullish threshold since March, and this recent uptick has been driven by a ton of insider buying at banks and professional services companies (unfortunately, two of my least favorite industries).

Today, we saw another slew of insider buys at banks, including directors - with strong previous performance - buying Farmers & Merchants Bank (FMAO) and WesBanco (WSBC). As for professional services, the CEO at Booz Allen Hamilton bought the stock for the first time after it fell 50% in the last year. Unfortunately, the price action at these companies has been abysmal, which is forcing me to put a pin in them for now. More notes on these companies later in the email.

We also saw a couple of CEOs returning to buy more of Amrize (AMRZ) and Concentrix (CNXC), adding on to purchases they made over the last couple of months.

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🔒 Today’s Top Trades

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🔒 Other Trade Notes

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🔒 Data Dump

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