Gabelli's GAMCO Stays Active

JC Parets
March 15, 2022

Abdiel Capital filed a Form 4 yesterday revealing a purchase of an additional 105,500 shares in the software company Appian Corp $APPN.

The firm also made a large purchase in February in the amount of roughly $6.5 million. It now owns nearly 6 million shares of APPN, representing an ownership stake of approximately 14%.

Another software stock, Shift4 Payments $FOUR, had insider activity reported, as the chairman of the board and CEO, Jared Isaacman, filed a Form 4 revealing a purchase worth approximately $1.7 million. 

Isaacman now owns 334,742 shares of FOUR.

The cosmetics stock Coty Inc $COTY made our list with a $2.5 million inside purchase by CEO Sue Nabi.

One name that stands out from a technical perspective is First Internet Bancorp $INBK. 

Chairman and CEO David Becker purchased 20,000 shares for $891,843, bringing his total ownership to 384,499 shares. 

After making new all-time highs earlier in the year, INBK has pulled back in recent months and is currently testing a critical support zone at the 2018 highs.

As long as this level holds, the primary trend is intact, and the bias is to the upside.

Here’s The Hot List, with data through March 14, 2022:

Mario Gabelli’s GAMCO Investors has been rather active lately, and it’s back on our list today with a 13D filing that reveals an 11.62% ownership stake in the chemical company Tredegar Corporation $TG.

GAMCO also reported a large ownership interest in the oil and gas stock National Fuel Gas Company $NFG earlier in the month.

Last but not least, there was also bullish action for some software stocks in the options market yesterday.

Both NortonLifeLock $NLOK and Porch Group $PRCH saw unusual activity in weekly calls.

Stay tuned. We'll be back Wednesday with more insider action.

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And as always, feel free to reach out with any questions. We love hearing from you!

All Star Charts Team

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