Insiders Are in BTFD Mode

JC Parets
May 11, 2022

I think it’s safe to say insiders are buying the dip!

This might be the most Form 4 filings we’ve seen in a single day since we started doing this.

And we’re seeing activity in all different sectors, from software to chemicals, including even casinos.

The most significant buy on today's Hot List is a Form 4 filing by VA Partners (ValueAct).

The San Francisco-based hedge fund revealed a purchase of roughly $47 million in the fintech stock Fiserv Inc $FISV.

Here’s The Hot List, with data through May 10, 2022:

We continue to see insider activity in B. Riley Financial $RILY. This time, Chairman and CO-CEO Bryant Riley reported a purchase of roughly $3,543,973.

Corporate executives keep buying the pullback in materials stocks.

The rare earth metals company, MP Materials $MP stands out from that group today with a former Goldman Sachs partner and board member Connie Duckworth purchasing just under $600,000 worth of shares.

CEOs continue to be active, as the top decision-makers at CDW Corporation $CDW, iHeartMedia $IHRT, and Luminar Technologies $LAZR all reported purchases yesterday.

There was an insider buy reported by both the CEO and CFO of the medical device company Tandem Diabetes $TNDM.

These two employees probably know more about the stock than anyone so we’re paying extra attention to this name right now.

TNDM stock is down almost 50% since April.

In another Form 4 filing, WindAcre Partnership reported a buy of $13,840,000 in Perimeter Solutions $PRM, representing an ownership interest of 12.7%.

Over in Washington, there was some activity from Rep. Jim Langevin, who reported a position in Meta Platforms (formerly Facebook) $FB via call options.

Last but not least, there was bullish flow in United Airlines $UAL and the multinational coffeehouse chain Starbucks $SBUX.

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

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All Star Charts Team

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