Top insider trades (Wed, Nov 5)

Connor’s Commentary

There were 187 new insider trades, and we found:

• More bank CEOs buying the stock

• A ton of insiders at Matador Resources (MTDR) and Utz Brands (UTZ) buying the stock (though I’m skeptical of both)

• Dip buys at American Tower Corp (AMT) and Adtalem Global (ATGE)

• A director bought $15M of MSC Industrial Direct (MSM), their largest purchase ever. They have pretty good returns, and the stock just bounced off the 200d SMA and is slightly above the 20d EMA

• Neuberger Berman Group sold nearly $8M of Getty Images (GETY). The stock has fallen significantly after all of its previous sales

• The Chief Accounting Officer at Adobe sold $50k. It’s her smallest sale ever, but the stock has fallen after her previous sales

• and more…

I go more into depth in all of these in the Trade Notes sections of this email

Commentary

Another bullish day of insider buying, with the percent of insider trades that are purchases well above the median.

The S&P is also up slightly pre-market after a brutal day yesterday. It’s right at the 20d EMA, so we’ll see if we get a bounce there.

If it seems like we have been seeing a ton of insider buying at banks and REITs, it’s because we have. They are the two industries with the most bullish insider trading over the last 3 months.

And today was no exception, with the CEOs of First US Bancshares (FUSB) and Citizens Financial Services (CZFS) buying the stock (and both have pretty good previous returns).

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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