Top insider trades (Thu, Jun 4)

Today’s Largest Unscheduled Trades

There were 427 new insider trades filed.

No insider trades were flagged as High Signal, but I shared my notes on two high-scoring insider purchases that are both very compelling, but just a bit too early for me. One company is selling its largest and worst-performing segment. This will give them cash for de-leveraging and buybacks, and improve their growth and margins. The stock is also trading well-below it’s median EV/EBITDA multiple and 50% below its closest peer. The other company just made a massive acquisition, which makes it massively exposed (and leveraged) to a housing-cycle recovery. I will be very interested in the company when I’m ready to make my housing bets.

Our system gave 2 insider purchases high scores (I shared our system’s notes on those in the High Scoring Purchases - Quick Notes).

We also found 2 insider purchases from insiders who average 20%+ 1y returns.

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

Today’s largest unscheduled insider trades:

• Director (PAGLIUCA STEPHEN G) at Norwegian Cruise Line Holdings Ltd. $NCLH purchased $24.99M (largest purchase ever, out of 2). This increased their listed holdings by 15,484%. 6 other insiders also purchased the stock in the last 30 days.

• Director (Malka Meyer) at Robinhood Markets, Inc. $HOOD purchased $15.10M (3rd largest purchase, out of 7). Dip Buy: the stock was down -38% in the previous 6 months. This insider has purchased the stock 2 times in the last 30 days.

• Director (SIMPSON BOB R) at TXO Partners, L.P. $TXO purchased $8.23M (3rd largest purchase, out of 19). 1 other insider also purchased the stock in the last 30 days.

• Director (WALLMAN RICHARD F) at CECO ENVIRONMENTAL CORP $CECO purchased $1.54M (2nd largest purchase, out of 48). Rip Buy: the stock was up 46% in the previous 3 months.

• Director (Pei Steven Yu-Tsung) at Comstock Inc. $LODE purchased $1.45M (largest purchase ever, out of 2). This increased their listed holdings by 23%. 3 other insiders also purchased the stock in the last 30 days.

• Director (WEATHERMAN ELIZABETH H) at INSULET CORP $PODD purchased $497.49K (4th largest purchase, out of 10). This increased their listed holdings by 49%. Dip Buy: the stock was down -41% in the previous 3 months.

• Director (Hoffmann David Henry) at LEE ENTERPRISES, Inc $LEE purchased $390.94K (5th largest purchase, out of 13). Rip Buy: the stock was up 29% in the previous month. This insider has purchased the stock 6 times in the last 30 days.

• CHAIRMAN AND CEO at PhenixFIN Corp $PFX purchased $389.61K (6th largest purchase, out of 32). This insider has purchased the stock 2 times in the last 30 days.

• Director (Neto Olimpio Matarazzo) at Patria Investments Ltd $PAX purchased $349.95K (2nd largest purchase, out of 4). This insider has purchased the stock 4 times in the last 30 days.

• Chief Executive Officer at Pagaya Technologies Ltd. $PGY purchased $250.55K (2nd largest purchase, out of 2). Rip Buy: the stock was up 35% in the previous 3 months. Their last purchase was 785 days ago.

• Executive Chairman at American Assets Trust, Inc. $AAT purchased $234.00K (150th largest purchase, out of 191). This insider has purchased the stock 6 times in the last 30 days.

• Director (LEVY PAUL S) at ContextLogic Holdings Inc. $LOGC purchased $232.34K (10th largest purchase, out of 10). 1 other insider also purchased the stock in the last 30 days.

• Director (Silver Lake Partners IV, L.P.) at Dell Technologies Inc. $DELL sold $86.93M (largest sale ever, out of 2). This decreased their listed holdings by -10%. Rip Sell: the stock was up 100% in the previous month. 4 other insiders also sold the stock in the last 30 days.

• CEO at AXT INC $AXTI sold $22.31M (largest sale ever, out of 53). Rip Sell: the stock was up 155% in the previous 3 months. 1 other insider also sold the stock in the last 30 days.

• Director (MIHAYLO STEVEN G) at Crexendo, Inc. $CXDO sold $17.19M (2nd largest sale, out of 7). This decreased their listed holdings by -14%. Rip Sell: the stock was up 21% in the previous month. 5 other insiders also sold the stock in the last 30 days.

• Director (BOTHA ROELOF) at Natera, Inc. $NTRA sold $17.18M (2nd largest sale, out of 6). 7 other insiders also sold the stock in the last 30 days.

• Chief Administration Officer at ASE Technology Holding Co., Ltd. $ASX sold $6.12M (first-ever sale). Rip Sell: the stock was up 23% in the previous month. 1 other insider also sold the stock in the last 30 days.

• SVP, Chief Gov, Sust, HR Offr at ARROW ELECTRONICS, INC. $ARW sold $4.78M (largest sale ever, out of 12). This decreased their listed holdings by -49%. Rip Sell: the stock was up 23% in the previous month. 2 other insiders also sold the stock in the last 30 days.

• Chief Executive Officer, Wind at GE Vernova Inc. $GEV sold $4.57M (first-ever sale). This decreased their listed holdings by -72%. Rip Sell: the stock was up 61% in the previous 6 months. 1 other insider also sold the stock in the last 30 days.

• EVP and COO at INNODATA INC $INOD sold $4.42M (5th largest sale, out of 25). This decreased their listed holdings by -22%. Rip Sell: the stock was up 159% in the previous month. 4 other insiders also sold the stock in the last 30 days.

• Chief Legal & Compliance Off. at MILLICOM INTERNATIONAL CELLULAR SA $TIGO sold $4.36M (first-ever sale). This decreased their listed holdings by -22%. Rip Sell: the stock was up 76% in the previous 6 months.

• Executive Vice President at NUCOR CORP $NUE sold $3.40M (largest sale ever, out of 13). This decreased their listed holdings by -17%. Rip Sell: the stock was up 14% in the previous month. 8 other insiders also sold the stock in the last 30 days.

• Founder at BRC Inc. $BRCC sold $2.98M (3rd largest sale, out of 3). Rip Sell: the stock was up 37% in the previous month. Reversal: they made 1 straight purchases before this sale. Their last sale was 624 days ago.

• COO & CFO at AXON ENTERPRISE, INC. $AXON sold $2.89M (3rd largest sale, out of 15). Rip Sell: the stock was up 21% in the previous month. 3 other insiders also sold the stock in the last 30 days.

• Chief Commercial Officer at ARM HOLDINGS PLC /UK $ARM sold $2.64M (2nd largest sale, out of 6). This decreased their listed holdings by -24%. Rip Sell: the stock was up 90% in the previous month. 4 other insiders also sold the stock in the last 30 days.

• Director (KIRSCH ARTHUR S) at Liquidia Corp $LQDA sold $1.73M (largest sale ever, out of 5). This decreased their listed holdings by -42%. Rip Sell: the stock was up 44% in the previous month. Reversal: they made 3 straight purchases before this sale. 5 other insiders also sold the stock in the last 30 days.

• Director (Pegram Michael E) at Caesars Entertainment, Inc. $CZR sold $1.61M (largest sale ever, out of 2). This decreased their listed holdings by -26%. Reversal: they made 7 straight purchases before this sale. Their last sale was 1715 days ago.

• Director (Higashi Emiko) at RAMBUS INC $RMBS sold $1.60M (largest sale ever, out of 12). This decreased their listed holdings by -16%. Rip Sell: the stock was up 49% in the previous month. 5 other insiders also sold the stock in the last 30 days.

• Director (Keyes James W) at Murphy USA Inc. $MUSA sold $1.20M (largest sale ever, out of 2). This decreased their listed holdings by -13%. Their last sale was 643 days ago. 4 other insiders also sold the stock in the last 30 days.

• Director (Shachar Erez) at RISKIFIED LTD. $RSKD sold $1.00M (3rd largest sale, out of 6). 2 other insiders also sold the stock in the last 30 days.

• and more…

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