Insiders Rush To Buy After Earnings Blackout

JC Parets
May 1, 2023

Today’s hot list is a long one with many executives rushing to buy shares following the first quarter earnings blackout period.

The largest insider buy on today’s list comes in a Form 4 filing by Chicago Pacific Founders.

The firm reported a purchase of roughly $5.5 million in Polaris $PII.

GAMCO filed a 13D revealing an increase in ownership in Sinclair Broadcast Group $SBGI from 9.44% to 10.56%.

Here’s The Hot List, with data through April 28, 2023:

The CEO, the executive vice-president, and a director of Cleveland-Cliffs $CLF all filed Form 4s reporting purchases of their own stock for a combined amount of $1.5 million.

Enphase $ENPH director Thurman Rodgers reported a sizable purchase of about $4.5 million in the solar energy leader.

There was also insider activity in a handful of regional banks that have reported earnings the past few weeks. 

Among them are Texas Capital Bancshares $TCBI, Farmers National Banc Corp $FMNB, Huntington Bancshares Incorporated $HBAN, PCB Bancorp $PCB, and Cathay General Bancorp $CATY.

In the options market, there was bullish flow in JD.com Inc $JD, Globalstar $GSAT and Catalent $CTLT.

The only stock that saw bearish flow was First Republic Bank $FRC. The troubled bank was seized by the FDIC this weekend and sold to JP Morgan.

Stay tuned. We'll be back on Tuesday with more insider activity.

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All Star Charts Team

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