Top insider trades (Tue, Oct 28)

Connor’s Commentary

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Yesterday, I mentioned the real-time alert system in the Discord (link) and how we got an alert that the CEO of FTI Consulting (FCN) bought the stock at 7:30am. I also mentioned that most CEO purchases have been catching a bid, and FCN is no different, with the stock up over 5.5% yesterday (it’ll also make an appearance in the Top Trades section later in this email).

Another insider purchase we highlighted recently was a director at Grindr (GRND) making a top purchase in the October 15th email.

This one had a very clear story as the stock was trading at all-time low valuations (while they had solid revenue and user growth), it had fallen 40% in the previous 3 months, and the director expressed interest in taking the company private at a rumored $15/share. It only took two weeks for this rumor to become reality as an offer of $18/share was announced on Friday, and the stock popped over 20%.

Obviously, investors are quite wary of this deal (many believe it is just the director attempting to juice the stock price to avoid liquidation) as the stock has already given back a chunk of the pop and is trading at under $15/share.

Regardless of whether this deal goes through, the stock looks quite cheap.

keep scrolling. more data below

🔒 Today’s Top Trades

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🔒 Other Trade Notes

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🔒 Data Dump

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