CEOs and CFOs Are Buying the Dip

JC Parets
May 3, 2022

The largest insider transaction on today’s list is a Form 4 filing by Simon Groom, who reported an additional $43 million purchase in the broadcasting company iHeartMedia $IHRT.

The chief financial officer at General Motors $GM, Paul Jacobson, revealed a purchase of roughly $1,357,650 worth of his own company's stock in a Form 4.

CFO activity always catches our attention as not many employees know and understand a company’s financial condition better.

Andrea B. Smith, independent director at HCA Healthcare Inc $HCA, disclosed a purchase of approximately $250,000 in a Form 4.

Here’s The Hot List, with data through May 2, 2022:

A handful of CEOs from financial services companies filed Form 4s revealing small purchases in their own stock.

Among them are Stewart Information Services $STC, Diamond Hill Investment Group $DHIL, and First Financial Bancorp $FFBC.

The CEO of the rental and leasing company H&E Equipment Services $HEES also reported an insider purchase of about $685,000 of his own stock yesterday.

Seeing all these chief executive officers and even chief financial officers buy into the recent selloff isn’t a bad sign for the broader market.

With that said, there is still no evidence the market is bottoming from a technical perspective. That’s what really matters.

The only 13D on our list today was filed by Mario Gabelli of Gamco Investors, revealing a 2.1% ownership stake in the small-cap industrial company Lawson Products $LAWS.

The mutual fund manager MFS Investments filed a 13G revealing a 10.4% ownership stake in the financial services company Equifax Inc $EFX.

Last but not least, there was bullish options flow in the department store chain Macy's $M and the American toymaker Mattel, Inc. $MAT.

There was also bearish flow in the household and personal products company Dogness $DOGZ.

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

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All Star Charts Team

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