Insiders Love GameStop

Renowned investor Thomas Tull purchased another 253,000 shares of the scrubs and casual clothing company Figs $FIGS.

He now owns almost 40% of outstanding shares through his investment firm, Tulco LLC. He discussed the position during an interview with CNBC this morning.

Coliseum Capital Management reported a $12.8 million purchase in the building materials company GMS Inc. $GMS.

Coliseum now owns more than 5.5 million shares, giving it a 12% ownership interest.

Kennedy Lewis Management filed a Form 4 revealing a $15 million purchase in Eastman Kodak $KODK. 

Here’s The Hot List, with data through March 23, 2022:

There was also activity in out-of-the-money weekly calls yesterday. Maybe this is related. Maybe not. Regardless, it’s always bullish to see the same name pop up on multiple insider scans.

Another thing we like to see is multiple buyers in the same stock.

GameStop $GME is the latest example of this, as the meme stock is back on our list today. 

Director Larry Cheng purchased another $383,000 of stock. Just like CEO Ryan Cohen yesterday, he announced his share purchase on Twitter.

Another filing that stands out on today’s list is New Jersey Rep. Josh Gottheimer’s Periodic Transaction Report.

Rep. Gottheimer reported a slew of buying and selling in various Microsoft $MSFT options.

He appears to have put on a reverse calendar spread. Rather than a directional bet, this means he’s betting on the stock to make a big move in either direction.

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

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All Star Charts Team