After weeks of nonexistent insider buying, other than hedge funds which I generally dismiss as informed but not that meaningful OPM other people’s money, insiders have come back with a vengeance. Some likely unleashed by Trump’s change of regime optimism, while others were likely motivated as the market prematurely selected winners and losers. Centene insiders began buying shares shortly after the election results raised concerns about government funding for healthcare. Enphase, already struggling, faced further declines as solar energy incentives came into question. Meanwhile, semiconductor stocks, with the sole exception of Nvidia, are dropping sharply due to the potential reintroduction of tariffs and restrictions related to China.
It’s a whole new ball game, and we are not even in the 1st inning. It’s also the end of the blackout period, so insiders are able to buy and sell stocks freely. Combine that with the last quarter of the year- well, tighten your seat belt. The ride is going to get fast and bumpy. And remember, as Buffett says, “Buy when others are fearful, sell when they are greedy.”
Name: Christian E Rothe
Position: Sr. VP and CFO
Transaction Date: 2024-11-11 Shares Bought: 7,273 Average Price Paid: $275.11 Cost: $2,000,904
Company: Rockwell Automation Inc (ROK)
Rockwell Automation, Inc. is the world’s leading firm focused on industrial automation and digital transformation. Rockwell understands and simplifies their customers’ complicated production difficulties, providing the most valuable solutions that combine technology and industry expertise. As a result, They increase their customers’ resilience, agility, and sustainability, giving them more opportunities to win. The company continues to operate as the Allen-Bradley Company, which was founded in 1903. When the old Rockwell International Corporation (RIC) acquired the privately held Allen-Bradley Company in 1985, it was a leading North American maker of industrial automation equipment.
Christian E Rothe has served as Senior Vice President and Chief Financial Officer (CFO) since August 2024. He has extensive executive leadership, finance, strategic planning, operations, and business development experience. He joins Rockwell after 13 years with Graco Inc., an industrial corporation that develops and manufactures fluid-handling systems and equipment. Rothe was Graco’s chief financial officer and treasurer from 2015 to 2018, before taking on leadership roles in the company’s worldwide business divisions. He is now the President of the Global Industrial Division. Rothe formerly worked in finance and strategic development at Gardner Denver before joining Graco. Rothe earned an undergraduate degree from St. Cloud State University and an MBA from the University of Minnesota.
Opinion: We’ve been holding onto Rockwell since February last year when CEO Moret purchased $992k worth of stock. We’ve been under water on the trade until this last week. It took the CFO buying $2Million in stock to turn the crowd sentiment. According to Fly on the Wall, Baird raised the firm’s price target on Rockwell Automation to $290 from $280. The firm said their view on the long-term secular automation opportunity remains intact, could be accelerated domestically, depending on Trump policy directions affecting supply chains/labor costs. I’ve always thought Rockwell was great AI automation play. Inevitably more manufacturing will be reshored under Trump and the only way to compete is with more “Rockwell Automation”.
Name: Edward Geiser
Position: Director
Transaction Date: 2024-11-11 Shares Bought: 2,500 Average Price Paid: $144.89 Cost: $362,225
Company: Atmos Energy Corp (ATO)
Atmos Energy Corporation, headquartered in Dallas, Texas, and incorporated in Texas and Virginia, is the country’s largest natural gas-only distributor by number of customers. The company also operates one of Texas’ largest intrastate pipelines, with miles of pipe. Atmos Energy’s vision is to be the most secure provider of natural gas services. The company is recognized for providing excellent customer service, being a wonderful employer, and producing superior financial outcomes.
Edward Geiser served asDirectors of Atmos Energy Corporation since September 2024. Edward Geiser is Juniper Capital Advisors, L.P.’s Executive Managing Partner and Chair of the firm’s and its funds’ Investment Committees. Before founding Juniper Capital, Geiser worked as a Managing Director at Och-Ziff Capital Management, where he oversaw the firm’s private energy investing from 2008 to 2013. Before joining Och-Ziff, He worked for Merrill Lynch and Morgan Stanley Investment Banking Groups, where he offered strategic consultancy and capital markets services to energy-related companies. He also chaired the Nomination, Environmental, Social, and Governance Committees and served on the Compensation Committee.
Opinion: With inevitably more LNG exports now in works due to the Trump energy vision, all things pipelines should work.
Name: Colin V Reed
Position: Exec. Chairman of the Board
Transaction Date: 2024-11-08 Shares Bought: 6,809 Average Price Paid: $111.59 Cost: $759,816
Company: Ryman Hospitality Properties Inc. (RHP)
Ryman is the successor to the Gaylord Entertainment Company, a Delaware corporation founded in 1956. Gaylord merged with and into its wholly-owned subsidiary, Ryman, on October 1, 2012, as part of the company’s plan to restructure its business operations to qualify as a REIT for federal income tax purposes. Ryman was the surviving corporation, and Ryman succeeded and began conducting, directly or indirectly, all of Gaylord’s business immediately before the merger. Ryman is a Delaware corporation that began operations as a self-advised and self-managed REIT for federal income tax purposes on January 1, 2013. They specialize in group-friendly, destination hotel properties in both urban and resort settings.
Colin V. Reed has been Executive Chairman of the Board of Directors since January 1, 2023, and a director of the company since April 2001. Reed previously served as the Company’s CEO from April 2001 to December 2022, and he was initially elected Chairman of the Board of Directors in May 2005. Reed was also the Company’s President from November 2012 to March 2015, as well as till November 2008. When Reed joined predecessor business Gaylord Entertainment, he spearheaded a strategic reorganization of the company’s holdings, resulting in a portfolio of hotel assets under the Gaylord Hotels name. Reed previously served as Harrah’s Entertainment Inc.’s chief financial officer and a member of the three-person President’s Office. He joined the company in 1977 as a financial controller for the erstwhile Holiday Inn International Division. From 1999 to 2001, he served on the board of directors of Harrah’s Entertainment. Reed has previously served on the board of directors for Bass Pro Shops and Rite Aid.
Opinion: I’ve been watching Ryman insider buy for some time and I’ve never pulled the trigger to my regret. A long-time insider is buying near the top of the range. This is usually a very good sign. Busy is good, the market knows that, and business is likely to get better.
Name: Paul J Fribourg
Position: Director
Transaction Date: 2024-11-13 Shares Bought: 157,000 Average Price Paid: $63.98 Cost: $10,045,534
Company: Estee Lauder Companies Inc (EL)
Estée Lauder Companies Inc. was founded in 1946 by Estée and Joseph Lauder. It is one of the world’s largest manufacturers, marketers, and retailers of high-quality skincare, makeup, fragrance, and hair care products, as well as a global custodian of luxury and prestige brands. The company’s brands include Estée Lauder, Clinique, Origins, M·A·C, Bobbi Brown Cosmetics, La Mer, Aveda, Jo Malone London, TOM FORD, Too Faced, Dr.Jart+, and The Ordinary. They are also the global licensee for the fragrance and cosmetic brands AERIN, BALMAIN, and Dr. Andrew Weil. Each brand has a particular place in the cosmetics and beauty product market. They have been controlled by the Lauder family from the company’s inception. As of August 12, 2024, members of the Lauder family, including directors, executive officers, and/or employees, beneficially own, directly or indirectly, shares of the Company’s Class A Common Stock and Class B Common Stock, which account for approximately 84% of the Common Stock’s outstanding voting power.
Paul J Fribourg is the Chairman and CEO of Continental Grain Company, a multinational agribusiness and investment firm. He joined Continental Grain Company in 1976 and held several positions of increasing responsibility in both the United States and Europe. He is on the Board of Directors of Loews Corporation. He has been a director of both Bunge Limited and Restaurant Brands International Inc. for the previous five years. He serves on Rabobank’s International North American Agribusiness Advisory Board, Temasek Americas Advisory Panel, and the International Business Leaders’ Advisory Council for the Mayor of Shanghai. He’s been a member of the Council on Foreign Relations since 1985. Fribourg serves on the Audit and Compensation Committees, as well as the Stock Plan Subcommittee.
Opinion: Legendary investor Paul Fribourg adds to his holdings in Estee Lauder after numerous analyst negative commentary. Fly on the Wall writes Morgan Stanley analyst Dara Mohsenian lowered the firm’s price target on Estee Lauder to $85 from $100 and keeps an Equal Weight rating on the shares. A Q1 beat was overshadowed by below consensus Q2 guidance, withdrawn second half guidance, and a dividend cut, says the analyst, who contends that “visibility is very low here” and awaits potential strategy changes and any incremental productivity plans from the incoming new C-suite, which the firm thinks needs to include an expanded restructuring plan in which Estee addresses its high cost structure.
As Buffett says, “buy when others are fearful, sell when they are greedy”
Name: Badrinarayanan Kothandaraman
Position: President & CEO
Transaction Date: 2024-11-14 Shares Bought: 5,000 Average Price Paid: $60.38 Cost: $301,903
Company: Enphase Energy Inc. (ENPH)
Enphase is a global energy technology firm that was launched in March 2006. The company provides sophisticated, user-friendly solutions that integrate solar generating, storage, and communication on a single platform. The company provides a high-tech, networked solution to solar generation and energy storage by using its design expertise in power electronics, semiconductors, and cloud-based software technologies. The Enphase integrated approach to energy solutions maximizes a home’s energy capacity while also offering enhanced monitoring and remote maintenance capabilities.
Badrinarayanan Kothandaraman joined Enphase in April 2017 as chief operating officer before being named president and CEO in September 2017. He joins Enphase with over 21 years of product development and general management expertise in the semiconductor sector. Badri started his career at Cypress Semiconductor in 1995, working in process technology research and chip design before becoming vice president of the Asynchronous SRAM Business in 2008. From 2008 until 2011, Badri oversaw Cypress’s Memory Products Division’s Non-Volatile, Dual-Port, Timing, and Automotive businesses. Badri obtained his BTech from IIT Madras and his M.S. in materials science from the University of California, Berkeley. He also completed the Stanford Executive Program in 2008 and has eight US patents.
Opinion: Solar energy rock star Enphase has made a lot of people rich; it’s also crushed the latecomers. At least there is insider buying here and a following unlike Solar Edge. When solar stocks come back, Enphase will rock. Until then it’s a trade not an investment to hold.
Name: Andrew Lynn Asher
Position: Chief Financial Officer
Transaction Date: 2024-11-13 Shares Bought: 17,200 Average Price Paid: $58.14 Cost: $1,000,008
Company: Centene Corp (CNC)
Centene Corp.’s objective is to impact the health of the communities they serve, one individual at a time. Centene is a top provider of government-sponsored healthcare. The company provides quality healthcare to almost one in every fifteen people in the country through government-sponsored programs such as Medicaid, Medicare, and the Health Insurance Marketplace. The company’s distinctively local strategy, which includes local brands and local teams who live in, care about, and have a direct impact on the areas they serve, is a major differentiator in the company’s ability to provide members with access to great care. The company is focused on making strategic decisions and investments that bring value in the short term while also seeking chances to position the organization for long-term strength, profitability, growth, and innovation.
Drew Asher serves as Centene Corporation’s Chief Financial Officer since May 2021. Asher is responsible for Centene’s accounting, treasury, capital markets, tax, actuarial services, health economics, financial planning, investor relations, and procurement. Asher joined Centene in January 2020, following the company’s acquisition of WellCare, and served as Executive Vice President, Speciality. Prior to that, Asher was Executive Vice President and Chief Financial Officer of WellCare Health Plans. He spent 15 years at Coventry, most recently as Senior Vice President, Corporate Finance. Asher has a bachelor’s degree in accounting from the University of Florida and a master’s in taxes from the University of Central Florida.
Opinion: Centene is one of the stocks hurt by the Trump trade. No doubt Government health care spending will be scrutinized based on the new DOGE efficiency department and the actual healthcare results by RFK. It should get interesting here. I’d be a small buyer.
Name: Thomas L Monahan
Position: Chief Executive Officer
Transaction Date: 2024-11-08 Shares Bought: 5,000 Average Price Paid: $47.39 Cost: $236,950
Company: Heidrick & Struggles International Inc (HSII)
Heidrick & Struggles International, Inc. is a human capital leadership advisory organization that provides executive search, consulting, and on-demand personnel services to enterprises and business executives globally, assisting them in improving the effectiveness of their leadership teams. The company offers their services to a diverse variety of clients using the experience of over 500 consultants based in major cities across the world. The company and its predecessors have been providing leadership advice for over 70 years. Heidrick & Struggles was established as a Delaware corporation in 1999 when two of its predecessors amalgamated.
Tom Monahan is the CEO of Heidrick & Struggles since March 2024, a global leader in executive search, corporate culture, and leadership consulting, and on-demand recruitment solutions. His knowledge and insights, together with his enthusiasm for innovation and the science of leadership, contribute to business performance at Heidrick & Struggles and around the world. Tom has delivered lectures on leadership, data analytics, digital business, and service-based business models at Georgetown, Harvard, the University of Maryland, Dartmouth, and DeVry’s Keller School of Management.
Opinion: Newly anointed CEO Moneyhan buys near the top. This is usually a very bullish insider indicator. He also bought shares in August 15% lower than where it is today. Business is good and getting better. Buy.
Name: Jesse Anderson Corley
Position: Director
Transaction Date: 2024-11-12 Shares Bought: 22,476 Average Price Paid: $45.14 Cost: $1,014,570
Company: RxSight Inc. (RXST)
RxSight Inc. is a commercial-stage medical technology firm focused on enhancing patients’ vision after cataract surgery. Their unique RxSight Light Adjustable Lens system is the first and only commercially available premium cataract technology that allows surgeons to customize and optimize patients’ visual acuity following surgery. RxSight LAL is a premium intraocular lens constructed of a patented photosensitive material that changes shape in response to certain ultraviolet light patterns produced by LDD. The company intends to build its business largely by increasing the size of its LDD installed base and driving more LAL utilization through improved knowledge of the superior therapeutic outcomes provided by the RxSight system to patients.
Jesse Anderson Corley has been on the Board of Directors of RxSight since January 2015 and has served as Chairman of the Board of Directors since July 2015. He has also been on the Compensation Committee since January 2015, and the Governance Committee since July 2021. Mr. Corley has also served on the board of Neurolenses, Inc. since 2012, where he is currently Chairman of the Board, and as a partner at Flying L Partners since 2016. Mr Corley co-founded Eyeonics, Inc. in 1998 and served as its CEO and Chairman of the Board until the company’s sale to Bausch & Lomb, Inc. in February 2008. Mr. Corley earned a Bachelor of Business Administration from Georgia Southern University.
Opinion: Breakthrough technology although early stage it is great to see an insider buying $1M of his company’s stock. Revenue growth is strong and this could be the future of cataract surgery, the #1 most performed operation in the U.S. This is a must flyer.
Name: Harjinder Bajwa
Position: Chief Operating Officer
Transaction Date: 2024-11-13 Shares Bought: 15,000 Average Price Paid: $34.83 Cost: $522,500
Company: Ultra Clean Holdings Inc. (UCTT)
Ultra Clean Holdings, Inc. is a prominent developer and provider of essential subsystems, components, parts, and ultra-high purity cleaning and analytical services, primarily for the semiconductor industry. UCT provides its customers with an integrated outsourced solution for major subassemblies, faster design-to-delivery cycle times, design for manufacturability, prototyping, part, and component manufacturing, tool chamber parts cleaning and coating, and micro-contamination analytical services. The company’s Products division principally designs, engineers, and manufactures production tools, components, parts, modules, and subsystems for the semiconductor and display capital equipment industries. Chemical delivery modules, frame assemblies, gas and fluid delivery systems, precision robots, process modules, and other high-level assemblies are among the products available.
Harjinder Bajwa began working as Chief Operating Officer at UCT in June 2024. He has 30 years of worldwide operations experience, which includes strategy formulation and implementation, operations improvement and quality control, lean manufacturing, and cost management. Harjinder was most recently the Chief Operating Officer at Reconext, a leading provider of aftermarket lifecycle services for electronics. He previously worked with Flex, Ltd. in a variety of roles for 27 years. He has also completed executive development programs at Stanford University and the Massachusetts Institute of Technology.
Opinion:
Name: Anthony S Marucci
Position: PRESIDENT & CEO
Transaction Date: 2024-11-11 Shares Bought: 11,500 Average Price Paid: $26.82 Cost: $308,430
Company: Celldex Therapeutics Inc. (CLDX)
Celldex Therapeutics, Inc. is a biopharmaceutical company dedicated to researching mast cell biology and developing therapeutic antibodies that can activate the human immune system and directly affect critical pathways, thereby improving the lives of patients suffering from severe inflammatory, allergic, autoimmune, and other debilitating diseases. Monoclonal and bispecific antibodies are among the company’s therapeutic prospects, to treat mast cell-mediated disorders that currently have insufficient therapy. Celldex’s mission is to become a fully integrated, commercial-stage biopharmaceutical company that creates critical medicines for people with unmet medical needs.
Mr. Marucci was appointed President and CEO of Celldex in September 2008, and a director in December 2008. Since May 2003, he has served as Celldex’s creator, Vice President, Chief Financial Officer, Treasurer, and Secretary. He also served as Medarex, Inc.’s Treasurer from December 1998 until March 2004. Between December 1998 and May 2003, he held many top financial positions at Medarex. Since May 2021, he has been on the board of directors of Genenta Science S.p.A., a publicly traded biopharmaceutical firm. He is a member of BioNJ Inc.’s Board of Trustees and formerly served as Treasurer until 2010. He also serves on the Board of the College of Business and Public Management at Kean University. Marucci earned his M.B.A. at Columbia University and his M.H.L. from Brown University.
Opinion: According to Fly on the Wall Guggenheim analyst Yatin Suneja notes that Celldex presented full data from the Phase 2 trial of barzolvolimab in two common forms of chronic inducible urticaria, or CIndU, as a late breaking oral presentation at ACAAI 2024 last Saturday and believes the recent selloff in the shares over the past month is “unwarranted” as the firm argues “data continue to look good.” Guggenheim reiterates a Buy and $90 price target on Celldex shares. That was before Friday’s biotech dump.
Name: Harry M Jansen Jr Kraemer
Position: Director
Transaction Date: 2024-11-08 Shares Bought: 43,000 Average Price Paid: $22.54 Cost: $969,031
Company: Option Care Health Inc. (OPCH)
Option Care Health, Inc. is the biggest independent supplier of home and alternate site infusion treatments, with 177 facilities throughout 43 states. The company uses over 40 years of clinical experience to provide patient-centered, cost-effective infusion therapy. The company infusion services include clinical administration of infusion therapy, nurse support, and patient care coordination. The company’s multidisciplinary team of over 4,500 clinicians, which includes pharmacists, pharmacy technicians, nurses, and nutritionists, can provide infusion service coverage to nearly all patients in the United States who require treatment for complicated and chronic medical illnesses.
Harry M. Jansen Kraemer, Jr. has served on Option Care Health’s Board since 2019. He serves as the Board’s independent chair, the chair of the Nominating and Corporate Governance Committee, and a member of the Audit Committee. Mr. Kraemer has been the executive partner of Madison Dearborn Partners, a private equity firm, since 2005. Before, he was the Chairman, President, and CEO of Baxter International, Inc., a publicly traded global maker of diagnostic and other healthcare products. He has extensive experience in the health industry, as well as technology and innovation, from his time at biotechnology and pharmaceutical firms.
Opinion: Large buys from long time board member should say something about the overreaction to the Goldman Sach’s analyst comments from Fly on the Wall Goldman Sachs which downgraded Option Care Health (OPCH) to Neutral from Buy with a $27 price target. The firm had previously held the view that Option Care’s drugs, including Stelara, were less exposed to gross profit pressure as drugs went generic, but on the Q3 earnings call, management disclosed that Stelara’s manufacturer, Johnson & Johnson (JNJ) had negotiated for a significant and rapid decline in the drug-spread on Stelara for OptionCare in 2025, the analyst tells investors. While Stelara is “unique in size,” its inclusion within the Inflation Reduction Act, the expected pace of pricing declines, and the spread compression precedent created by this situation add incremental risk that other drugs across the portfolio could face similar pressure, notes the firm, which expects these risks will be heightened around several loss-of-exclusivity events upcoming between 2025-2029.
Name: Risher John David
Position: Chief Executive Officer
Transaction Date: 2024-11-12 Shares Bought: 13,790 Average Price Paid: $18.15 Cost: $250,272
Company: Lyft Inc. (LYFT)
Lyft, Inc. began a movement to revolutionize transportation. The company debuted the peer-to-peer ridesharing platform in 2012 and has continued innovating. Today, Lyft is one of the most extensive multimodal transportation networks in the United States and Canada. The company serves a crucial purpose: to send riders out into the world so they may live their lives together, and to provide drivers with a means to work that allows them to control their time and money. They have built a larger network of users, brought together by a sophisticated technology platform, which powers rides and connections every day. They’ve also taken initiatives to position the network to profit from mobility-related technology advancements.
Risher John David has been Chief Executive Officer of Lyft since April 2023 and a member of the Lyft Board of Directors since July 2021. Mr. Risher co-founded Worldreader, a non-profit organization, where he served as Chief Executive Officer from November 2009 to April 2023 and Board President since March 2010. Before joining Worldreader, Mr. Risher was Senior Vice President of US Retail for Amazon.com, Inc., an e-commerce company. Before joining Amazon, he worked as a General Manager for Microsoft Corporation, a software corporation. Mr. Risher now serves on the boards of directors for several privately held and non-profit organizations.
Opinion:
Name: G Zachary Gund
Position: Director
Transaction Date: 2024-11-12 Shares Bought: 195,000 Average Price Paid: $17.67 Cost: $3,445,488
Company: WK Kellogg Co (KLG)
WK Kellogg Corporation is a well-known North American food corporation with a diverse array of brands that have thrilled customers for more than a century. As a major manufacturer, marketer, and distributor of branded ready-to-eat cereal, The company strives to create high-quality goods that promote consumer health and well-being. They manufacture their products in the United States, Mexico, and Canada and market them throughout the United States, Canada, and the Caribbean. Kellogg Corporation (now Kellanova), initially launched in 1906 as a mission-driven and family-orientated corporation, began when the company invented Corn Flakes in Battle Creek, Michigan, changing breakfast forever. They have since continued W.K. Kellogg’s enthusiasm and commitment to well-being by manufacturing nutritious, high-quality, and delicious cereal.
Zack Gund is the current Managing Partner of Coppermine Capital, LLC, a private investment firm he formed in 2001. Mr. Gund’s responsibilities include making investment decisions and overseeing multiple portfolio firms from various industries. His career has encompassed both the manufacturing and service industries, including food manufacturing. Mr. Gund has been a member of the Kellogg ParentCo Board since December 2014. He leads the Kellogg ParentCo Board’s Manufacturing Committee, as well as the Compensation & Talent Management and Nominating & Governance Committees.
Opinion: Certainly, RFK will have a target on processed foods like Kellog cereal, but everyone already know that Krispy Crisps and Big Macs are not the most intelligent food choices. If anything, making processed foods heather and their ingredients more transparent, likely won’t hurt profits. It actually might help them. Few people deliberately want to poison themselves.
Name: Robert Thomas Webb
Position: Director
Transaction Date: 2024-11-08 Shares Bought: 20,000 Average Price Paid: $16.98 Cost: $339,600
Company: Ardent Health Partners Inc. (ARDT)
Ardent Health Partners, Inc. owns and runs a network of hospitals and clinics across the United States, offering a variety of healthcare services. It runs acute care facilities, such as rehabilitation centers and surgery hospitals. The company was created in 2001 and is headquartered in Brentwood, Tennessee.
Robert Thomas Webb is the creator of UnitedHealth Group Ventures LLC. He served as President of UnitedHealth Group Ventures LLC from 2002 until 2021. He is also a director of UnitedHealthcare Insurance Company of America, Ardent Health Partners, Inc., and Sanvello Health, Inc. In addition, he has served on the board of Ardent Health Services LLC since 2022. Furthermore, he has been an operating partner at Granite Creek Capital Partners LLC since 2023. Mr. Webb earned his undergraduate degree from the University of Minnesota in 1991. He also received an MBA from Kellogg School of Management in 1998.
Opinion: BofA downgraded Ardent Health to Neutral from Buy with a price target of $19, down from $22. After the election win for Donald Trump, the firm sees risks to exchanges and Medicaid supplemental payments, noting that it views the Trump win as negative for healthcare facilities, and hospitals in particular, and believes that the current favorable environment is at risk.
Name: Marcel Gani
Position: Director
Transaction Date: 2024-11-13 Shares Bought: 20,000 Average Price Paid: $11.43 Cost: $228,648
Company: Solaredge Technologies Inc. (SEDG)
Name: More Avery
Position: Chairman of the Board
Transaction Date: 2024-11-11 Shares Bought: 156,000 Average Price Paid: $13.65 Cost: $2,129,400
Company: Solaredge Technologies Inc. (SEDG)
Solaredge Technologies Inc. is a major developer of optimized inverter solutions that have transformed the way power is captured and handled in solar systems. The company’s direct current, optimized inverter system maximizes power generation while minimizing the cost of energy produced by the PV system, resulting in a higher return on investment (ROI). Additional advantages of the DC-optimized inverter system include extensive and sophisticated safety features, increased design freedom, effective integration with SolarEdge storage solutions, and improved operation and maintenance (O&M) with module-level remote monitoring. As part of their hardware sales, they also offer energy management software, which regulates, manages, and optimizes the energy generation, storage, and consumption of company systems.
Marcel Gani has been a member of the Board of Directors since March 31, 2015. He has been an independent consultant to different start-up firms since 2009, and he was the CEO of New Pax, a private company, from November 2009 until June 2010. He lectured at Santa Clara University from 2005 to 2009, teaching accounting and finance courses. In 1997, he joined Juniper Networks, Inc., where he worked as chief financial officer and executive vice president from December 1997 to December 2004, and as head of staff from January 2005 to March 2006. Gani adds strong financial and business knowledge to the firm board from his years as a chief financial officer and director of public corporations.
Opinion: According to the Fly on the Wall, Morgan Stanley analyst Andrew Percoco downgraded SolarEdge to Underweight from Equal Weight with a price target of $9, down from $23. The firm also reduced its industry view on clean technology to In-Line from Attractive, saying there is an added level of uncertainty in the market as to how the policy environment for renewables will change under the newly elected administration. For SolarEdge, the analyst sees an elongated path back to profitability due to deteriorating demand in Europe and strong pricing competition from low-cost Chinese manufacturers selling product into the market. These pose a risk to SolarEdge’s path back to strong run-rate margins and sustainable cash generation; the analyst tells investors in a research note.
Solar Edge struggled with the wind behind its back, it’s hard to dump the stock now at the bottom with renewed insider buying but the narrative is getting worse, not better. Elon Musk just said “Solar power will be the vast majority of power generation in the future.” He also shared a post saying that “Rooftop solar delivers milestone of 80.5% share of electricity generation in Western Australia.” Reference Link
Name: Jon E Bortz
Position: Chairman and CEO
Transaction Date: 2024-11-14 Shares Bought: 26,000 Average Price Paid: $12.48 Cost: $324,480
Company: Pebblebrook Hotel Trust (PEB)
Pebblebrook Hotel Trust is an internally managed hotel investment company that was established in October 2009 as a Maryland real estate investment trust to acquire and invest in hotel properties primarily in major US cities, as well as resort properties near primary target urban markets and select destination resort markets, with a particular emphasis on major gateway coastal markets. As of December 31, 2023, the Company owned holdings in 46 hotels totaling 11,924 rooms. Pebblebrook Hotel, L.P. owns almost all of the Company’s assets and oversees its operations. The Company is the Operating Partnership’s sole general partner. The company primarily invests in hotel properties in major US cities, as well as resort properties close to key target urban centers and select destination resort markets, with a focus on key gateway coastal markets and vacation destinations.
Mr. Bortz has been Chairman of the Board, President, and CEO since the company’s inception in October 2009. Mr. Bortz was President, CEO, and Trustee of LaSalle Hotel Properties, a publicly traded hotel REIT, from its inception in April 1998 until his departure in September 2009. Mr. Bortz also served as Chairman of the Board of LaSalle Hotel Properties from January 1, 2001, to his retirement. Mr. Bortz formed Jones Lang LaSalle Incorporated’s Hotel Investment Group in January 1994, and as President, he oversaw all of the company’s hotel investment and development operations. He is a trustee of Federal Realty Investment Trust and serves on the Executive Committee of the Board of Governors of the National Association of Real Estate Investment Trusts. Mr. Bortz holds a Bachelor of Science in Economics from the University of Pennsylvania’s Wharton School of Business and is a CPA.
Opinion: Steady insider buying by Bortz has done nothing to instill inverstor confidence in Pebblebrook Hotel Trust. I don’t know why this time would be any different.
Name: Steven B Klinsky
Position: Director
Transaction Date: 2024-11-12 Shares Bought: 152,353 Average Price Paid: $11.53 Cost: $1,756,141
Transaction Date: 2024-11-06 Shares Bought: 210,469 Average Price Paid: $10.94 Cost: $2,301,554
Company: New Mountain Finance Corp (NMFC)
Name: John Kline
Position: CEO, President, and Director
Transaction Date: 2024-11-06 Shares Bought: 41,550 Average Price Paid: $10.92 Cost: $453,682
Company: New Mountain Finance Corp (NMFC)
New Mountain Finance Corporation is a Delaware corporation that was formed on June 29, 2010, and completed its first public offering on May 19, 2011. New Mountain Finance Corporation, a business development corporation, is a private equity/buyout and loan fund that invests and lends directly to middle-market companies in defensive growth industries. New Mountain Capital invests in defensive growth firms through its private equity, credit, and net lease investment methods. The Investment Adviser oversees the company’s day-to-day operations and offers investment advising and management services.
Steven B. Klinsky has been Chairman of the Board of Directors of New Mountain Finance Corporation since July 2010. Mr. Klinsky founded New Mountain Capital in 1999. Before creating New Mountain Capital, Mr. Klinsky co-founded Goldman Sachs & Co. ‘s Leverage Buyout Group. For the bulk of the 1990s, Mr. Klinsky was Forstmann Little’s most senior partner who was not a member of the family. Mr. Klinsky earned a B.A. in Economics and Political Philosophy with honors from the University of Michigan in 1976. He earned his M.B.A. from Harvard Business School and his J.D. with honors from Harvard Law School. He is or has been the chairman or director of several enterprises and philanthropies.
John Kline, Chief Executive Officer, President, and Director, joined New Mountain in December of 2008. Prior to joining New Mountain, he was an Investment Analyst and Trader for GSC Group’s distressed and corporate credit funds from 2001 to 2008. From 1999 to 2001, Mr. Kline worked at Goldman Sachs’ Credit Risk Management and Advisory Group. Mr. Kline now serves on the board of Unitek Global Services, an NMFC portfolio business. In 1999, Mr. Kline earned an A.B. degree in history from Dartmouth College.
Opinion:
Name: Jonathan L Steinberg
Position: Chief Executive Officer
Transaction Date: 2024-11-08 Shares Bought: 67,869 Average Price Paid: $10.84 Cost: 735,652.00
Company: WisdomTree Inc. (WT)
WisdomTree Inc. is a worldwide financial innovation that provides a diverse range of exchange-traded products (ETPs), models, solutions, and blockchain-enabled products. They enable investors and consumers to build their futures and help financial professionals better serve their clients and develop their businesses. They are utilizing cutting-edge financial infrastructure to develop products that offer access, transparency, and an improved customer experience. Building on the company’s innovation heritage, they are also developing and launching next-generation digital products, services, and structures, such as digital or blockchain-enabled mutual funds and tokenized assets, as well as the company’s blockchain-native digital wallet, WisdomTree Prime, which is currently available in 38 states, accounting for roughly 70% of the US population.
WisdomTree was founded by Jonathan Steinberg, who has served as CEO since October 1988 and President from August 2012 to September 2019. He has been a member of the Board of Directors since October 1988, and he served as Chair from that time until November 2004. He created and developed WisdomTree’s own index technique. He also served as Editor-in-Chief of Individual Investor and Ticker, two periodicals previously published by the Company. Prior to launching WisdomTree, he worked as an analyst in the Mergers and Acquisitions Department of Bear, Stearns & Co. Inc., an investment bank, from 1986 to 1988. He is a frequent conference speaker on digital assets and blockchain-enabled finance and has appeared on CNBC, Bloomberg, and Fox Business several times. He went to The Wharton School of Business at the University of Pennsylvania.
Opinion: I wouldn’t chase it but its worth buying if you can snag it a the price Steinberg paid. Revenue growth has been steady although profits growth has been somewhat erratic.
Name: Gerhard Zeiler
Position: President, International
Transaction Date: 2024-11-11 Shares Bought: 58,000 Average Price Paid: $9.24 Cost: $535,920
Company: Warner Bros. Discovery Inc. (WBD)
Warner Bros. Discovery is a leading global media and entertainment corporation that offers fans a unique portfolio of content, brands, and franchises in television, cinema, streaming, and gaming. Their iconic brands and franchises include Warner Bros. Motion Picture Group, Warner Bros. The company has one of the world’s greatest libraries of owned content, as well as formidable creative engines. The company has one of the most powerful hands in the industry in terms of the breadth and quality of assets and intellectual property across sports, news, lifestyle, and entertainment in nearly every region of the world and the majority of languages. They provide audiences and customers worldwide with content that informs, entertains, and, at its best, inspires.
Gerhard Zeiler is President of International for Warner Bros in 2020. Discovery. Zeiler oversees the company’s brands and has responsibility for direct-to-consumer in over 220 worldwide regions. He is also in charge of local theater production and acquisitions, as well as overseeing nation and region-specific networks and enterprises throughout Latin America, Europe, the Middle East, Africa, and Asia Pacific. Among his many professional accolades, Austrian-born Zeiler became the first non-American to earn NATPE’s coveted Brandon Tartikoff Legacy Award in 2011.
Opinion: I don’t think anyone, but Netflix has figured out how to make money in this super competitive industry. Perhaps there is a buyer in Apple or Google or someone else that wants to be in this space like Amazon. The general feeling is that mergers will be more acceptable under the Trump administration might make this a reasonable speculation.
Name: Liberty 77 Capital L.P., Liberty 77 Fund L.P., Liberty 77 Fund International L.P., Liberty 77 Capital Partners L.P., Liberty, Capital L.L.C., STM Partners LLC, MNUCHIN STEVEN T
Position: 10% Owner
Transaction Date: 2024-11-08 Shares Bought: 1,209,382 Average Price Paid: $7.08 Cost: $8,556,664
Company: Lions Gate Entertainment Corp (LGF-B)
Lionsgate combines world-class motion picture and television studio operations with the STARZ premium global subscription platform, which is meant to provide customers worldwide with a distinctive and diverse portfolio of entertainment. Lionsgate’s film, television, subscription, and location-based entertainment businesses are supported by a library of over 20,000 titles, including a rich collection of classic film and television brands. They manage and disclose their operating performance in three reportable business segments: motion pictures, television production, and media networks.
Liberty 77 Capital L.P., also known as Liberty Strategic Capital, operates as a private equity firm. The corporation mostly invests in technological businesses. Liberty Strategic Capital serves clients throughout Washington. The firm was founded in 2021 and is led by Steven T. Mnuchin, a former Secretary of the Treasury.
Liberty 77 Fund International LP engages in the Financial Services sector. The company is headquartered in Washington, D.C.
STM Partners LLC, a Delaware limited liability company, exercises indirect control over the Liberty Manager and the Liberty Funds’ general partner. Steven T. Mnuchin is the President of STM Partners LLC.
Steven T. Mnuchin is the founder and managing partner of Liberty Strategic Capital, as well as the chairman of the Investment Committee. Mr. Mnuchin was the 77th Secretary of the Treasury, serving from February 2017 until January 2021. Mr. Mnuchin managed the US Treasury’s efforts to maintain a robust economy, promote economic growth, and create job opportunities by setting circumstances for success both domestically and internationally. Mr. Mnuchin was also responsible for cybersecurity in the financial services industry and all Treasury divisions, including the IRS. Before being confirmed, he founded, chaired, and operated Dune Capital Management. He founded OneWest Bank Group LLC and served as Chairman and CEO until it was sold to CIT Group Inc. Secretary Mnuchin previously worked as a Partner and Chief Information Officer at The Goldman Sachs Group, Inc., where he oversaw the firm’s global information and technology strategy and operations. Secretary Mnuchin has a bachelor’s degree from Yale University.
Opinion: Mnuchin needs to buy this company already.
Name: Tom George Vadaketh
Position: SVP and CFO
Transaction Date: 2024-11-08 Shares Bought: 35,299 Average Price Paid: $7.00 Cost: $246,938
Company: Enviri Corp (NVRI)
Enviri Corporation is a major global provider of environmental solutions for industrial and specialty waste streams. The company’s two reportable business sectors are Harsco Environmental and Clean Earth, and they are a single-thesis environmental solutions provider that is a market leader. The company has worked in recent years to restructure its portfolio and strengthen its financial outcomes, and Enviri has invested to achieve these goals while also growing the company. These initiatives, which include both targeted organic investments and mergers and acquisitions, have ac2celerated Enviri’s business transformation.
Tom G. Vadaketh has been Senior Vice President and Chief Financial Officer since October 2023. Mr. Vadaketh was most recently the Chief Financial Officer of Bausch Health Companies Inc. from September 2018 to December 2021. Before that, he was the Chief Financial Officer of eResearchTechnology, Inc., a global firm specializing in clinical services for the life science industry. Mr. Vadaketh is a Chartered Accountant (ACA) with the Institute of Chartered Accountants of England and Wales and a Certified Public Accountant in the United States. He received an MBA from the University of Manchester (UK).
Opinion:
Name: John A DeFord
Position: Director
Transaction Date: 2024-11-12 Shares Bought: 17,500 Average Price Paid: $5.75 Cost: $100,625
Company: Maravai Lifesciences Holdings Inc. (MRVI)
Name: Carl Hull
Position: Co-Founder
Transaction Date: 2024-11-11 Shares Bought: 175,000 Average Price Paid: $5.64 Cost: $987,000
Company: Maravai Lifesciences Holdings Inc. (MRVI)
Maravai LifeSciences Holdings, Inc. is a major life science company that provides vital products for the development of innovative vaccines, pharmacological therapies, and diagnostics, as well as assistance for human disease research. According to industry consultants, Maravai’s customers include the top global bio-pharmaceutical companies in terms of R&D expenditures, as well as many other emerging biopharmaceutical and life sciences research companies, leading academic research institutions, and in vitro diagnostics companies. Maravai’s products cover the key stages of biopharmaceutical development, from research to commercialization, and include complex nucleic acids for vaccine, therapeutic, and diagnostic applications, custom enzymes for research and diagnostic use, and antibody-based products to detect impurities during biopharmaceutical production.
John A DeFord is the chairman, CEO, and president of Samothrace Medical Innovations, Inc., a privately held South Carolina-based company that he co-founded in March 2022. Dr. DeFord was the executive vice president and chief technology officer of Becton, Dickinson, and Company, a global medical technology company, until his retirement in May 2021. He joined the company in December 2017 as part of its acquisition of C.R. Bard, where he had been senior vice president of science, technology, and clinical affairs since June 2007. DeFord holds a bachelor’s and master’s degree in electrical engineering from Purdue University, as well as a PhD in electrical/biomedical engineering.
Carl Hull co-founded Maravai in 2014 and served as its CEO for eight years, overseeing the company’s unprecedented development and operational expansion, as well as its IPO. He has more than 35 years of sales, marketing, and general management experience in the diagnostics and life sciences industries. Before creating Maravai LifeSciences, Mr. Hull was CEO of Gen-Probe, when he was hired in 2007 as part of a board-directed CEO succession plan. He centered the company’s strategy on leveraging its fundamental molecular diagnostics and automation skills. Mr. Hull earned an MBA from the University of Chicago and a BA in political science and international relations from Johns Hopkins University.
Opinion: This looks like a strong contrarian buy. Numerous analysts downgrades last week drove a near 50% loss in price. Part of this sell off could be attributed to broader declines in healthcare related stocks perhaps due to the RFK nomination. RBC Capital lowered the firm’s price target on Maravai Lifesciences to $13 from $17 and keeps an Outperform rating on the shares after its wider than expected Q3 loss. Following three straight quarters of solid performance relative to guidance, Maravai fell victim to the weak biotech spending environment and lumpy customer order patterns inherent in their business, the analyst tells investors in a research note.
Name: David M Mott
Position: Director
Transaction Date: 2024-11-13 Shares Bought: 215,868 Average Price Paid: $4.62 Cost: $996,598
Company: Ardelyx Inc. (ARDX)
Ardelyx Inc. is a biopharmaceutical business created to discover, develop, and commercialize new first-in-class medications that address large unmet medical needs. The company has made a one-of-a-kind and novel platform that allowed The company to explore new biological mechanisms and pathways to build potent and effective therapeutics that reduce the side effects and drug-drug interactions common with traditional, systemically absorbed drugs. Tenapanor was the first chemical The company discovered and developed; it is a minimally absorbed, first-in-class oral, small-molecule treatment. The company also has RDX013 in development for adult patients with CKD and heart failure who have hyperkalemia, or increased serum potassium, and RDX020 in discovery for adult patients with metabolic acidosis, a significant electrolyte disease in patients with CKD.
David Mott has been on Ardelyx’s board of directors since March 2009, and he has served as chairperson since March 2014. David is currently a private investor through Mott Family Capital. From September 2008 to February 2020, David was a general partner at New Enterprise Associates, an investment firm focused on venture capital and growth equity investments, where he oversaw the healthcare investing business. He formerly worked as a vice president in the healthcare investment banking business at Smith Barney, Harris, Upham & Co., Inc. He received a B.A. in Economics and Government from Dartmouth College.
Opinion:
Name: Nicolas Sokolow
Position: Director
Transaction Date: 2024-11-12 Shares Bought: 100,000 Average Price Paid: $4.43 Cost: $442,500
Company: Clarus Corp (CLAR)
Clarus Corporation is a global pioneer in the design, development, manufacturing, and distribution of high-quality outdoor equipment and lifestyle products for outdoor lovers. Each Clarus brand has a long history of continuous product innovation for both core and daily users. The company believes that its portfolio of well-known brands is well-positioned for long-term growth, fuelled by industry trends in the outdoor and adventure sports end markets. The company has a long history of technological innovation and product development, and its extensive patent portfolio contributes to the evolution and growth of its markets.
Nicholas Sokolow has been a director since June 2002 and has been designated as the “lead independent director” of the Company’s Board of Directors since June 2016. Mr. Sokolow served on Armour Holdings’ Board of Directors from January 1996 to July 31, 2007, when the company was sold to BAE Systems. Mr. Sokolow was on the Board of Directors of Stamford Industrial Group, Inc.From June 1973 to October 1994, Mr. Sokolow worked as an associate and partner at Coudert Brothers Law Firm. Mr. Sokolow earned Economics and Finance degrees from the Institut D’Etudes Politiques, a Law degree from the Faculte de Droit, and a Master of Comparative Law from the University of Michigan.
Opinion: Clarus Corporation is the parent company of Black Diamond Equipment. Black Diamond is a well-known brand in the outdoor industry, specializing in designing, manufacturing, and marketing innovative outdoor performance equipment and apparel for activities like climbing, mountaineering, and skiing/ management has continued to blame macroeconomic headwinds on the poor business outcomes. Certainly there is some post pandemic pull through business that made poor comparisons but companies like Arc’teryx are showing strong growth. I think it’s time for Clarus to axe the CEO and chart a new course.
Name: Saleel Awsare
Position: President & CEO
Transaction Date: 2024-11-13 Shares Bought: 80,000 Average Price Paid: $2.66 Cost: $212,960
Company: Lantronix Inc (LTRX)
Name: Philip G Brace
Position: Director
Transaction Date: 2024-11-12 Shares Bought: 20,000 Average Price Paid: $2.65 Cost: $52,920
Company: Lantronix Inc (LTRX)
Lantronix, Inc. is a global pioneer in computing and connectivity solutions, focusing on high-growth industries like Smart Cities, Automotive, and Enterprise markets. The company’s products and services enable businesses to capitalize on the growing Internet of things industry by providing customizable solutions that target each tier of the IoT stack. Their offering is divided into three main product categories: embedded IoT solutions, IoT system solutions, and software and services. Each product line is intended to meet the requirements for scalable, secure, and dependable IoT deployments.
Saleel Awsare joins Lantronix from Synaptics Inc since 2023., a global leader in semiconductor devices, where he most recently served as senior vice president and general manager of the Enterprise and Mobile Division, the company’s largest division. Awsare joined Synaptics in 2017 and was a key element of the company’s migration from mobile to IoT and enterprise sectors, which helped drive its multi-fold growth in market valuation. Before joining Synaptics, Awsare held several top positions, including president of Conexant Systems, LLC, from 2012 until 2017. He successfully positioned Conexant as a global leader in audio and voice technologies, which led to Synaptics’ successful acquisition of the company in 2017.
Philip G. Brace joined the Board of Directors of Lantronix Inc. in August 2023. Philip G Brace has 30 years of expertise in the semiconductor, server, IoT, and storage industries, having held different roles in software, hardware, engineering, marketing, and sales. His most recent position was president and CEO of Sierra Wireless Inc.Brace began his career with Intel Corporation and LSI Corporation in a variety of engineering and managerial positions. Brace earned a bachelor of applied science degree in computer engineering from the University of Waterloo and a master’s degree in electrical engineering from California State University, Sacramento.
Opinion: Relatively small unexciting buys from an unexciting company.
Opinion:
Name: Charles K. Cohn
Position: Chief Executive Officer, 10% Owner
Transaction Date: 2024-11-12 Shares Bought: 8,338,206 Average Price Paid: $0.90 Cost: $7,476,003
Company: Nerdy Inc. (NRDY)
Nerdy Inc. runs a platform for live online learning. The company’s purpose is to use technology to transform people’s learning experiences. Their purpose-built proprietary platform uses technology, including artificial intelligence, to connect students, users, parents, guardians, and buyers of all ages with tutors, instructors, subject matter experts, educators, and other professionals, resulting in superior value on both sides of the network. The company’s comprehensive learning destination offers learning experiences in a variety of forms and subjects, such as one-on-one instruction, small group tutoring, big format seminars, tutor chat, essay revision, adaptive exams, and self-study tools. Their flagship company, Varsity Tutors LLC, is one of the country’s leading venues for live online tutoring and classes.
Charles K. Cohn is the founder, chairman, and CEO of Nerdy, the parent business of Varsity Tutors. Chuck launched the company in 2007 after being frustrated in his junior year of college trying to find the personalized support he needed for a calculus course. He began his career in energy and power investment banking at Wells Fargo Securities (Wachovia) and healthcare private equity at Ascension Ventures. Chuck earned a BSBA in Finance and Entrepreneurship from Washington University in St. Louis.
Opinion: I’m not sure what Nerdy is doing but whatever it is, it doesn’t seem to be creating revenue growth much less profits.
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This blog is solely for educational purposes and the author’s own amusement. IT IS NOT INVESTMENT ADVICE. Think of the blog as part of my personal investment journal that I am willing to share with the DIY investor. There are also many parts that I am not willing to share if I think it could influence trading action or be detrimental to the Fund’s partners. We could be long, short, or have no position at all in any of the stocks mentioned and express no written or implied obligation to disclose any of that.
Insiders sell the stock for many reasons, but they generally buy for just one – to make money. You’ve always heard the best information is inside information. Everyone with any stock market experience pays close attention to what insiders are doing. After all, who knows a business better than the people running it? Officers, directors, and 10% owners are required to inform the public through a Form 4 Filing of any transaction, buy, sell, exercise, or any other within 48 hours of doing so. This info is available for free from the SEC’s Web site, Edgar, although we subscribe to SECForm4 as they provide a way to manage and make sense of the vast realms of data. I’ve tried a lot of vendors. SECForm4 is one of the smaller ones, but I like supporting Frank. He is not arrogant. He’s helpful and has great prices. He also trades on his own data, so I like people that eat what they kill.
The bar is different from selling because the natural state of management is to be a seller. This is because most companies provide significant amounts of management compensation packages as stock and options. Therefore, we analyze unusual patterns with selling, such as insiders selling 25 percent or more of their holdings or multiple insiders selling near 52-week lows. Another red flag is large planned sale programs that start without warning. Unfortunately, the public information disclosure requirements about these programs, referred to as Rule 10b5-1, are horrendously poor. Also, planned sales that pop up out of nowhere are basically sales and are seeking cover under this corporate welfare loophole. I also generally ignore 10 percent shareholders as they tend to be OPM (other people’s money) and perhaps not the smart money on which we are trying to read the tea leaves. I say generally because some 10% shareholders are great investors. Think Warren Buffett and others
Of course, insiders can also be wrong about their Company’s prospects. Don’t let anyone fool you into believing they never make mistakes. Do your own analysis. They can easily be wrong, and in many cases, maybe most cases, have no more idea what the future may hold than you or me. In short, you can lose money following them. We have, and we curse aloud; what were they thinking!
We like Fly on the Wall for keeping up with what events might be happening, analysts’ comments, and whatever else could be moving the stock. Dow Jones news service is an essential tool, but many services pick up their feed like they do Bloomberg. For quick financial analysis, it’s hard to beat Old School Value.
A big callout to my assistant Ambreen who sets up this conversation by listing the notable buys that I’ve identified as soon as practically possible. She probes the 10k for a reasonable description of the business. I’ve found that to be the most accurate and succinct place to find out what a business actually does. When I have time, over the weekend, I’ll add some preliminary analysis to the Opinion at the end. Sometimes I won’t update this for a couple of weeks or more. A good way to use this blog is as I do, it’s a reference point and filing cabinet for various stocks with notable insider buying. It’s one of many tools I use. I regularly live on Microsoft Copilot now. I find the footnotes research very helpful in eliminating errors from AI hallucinations.
The Insiders Fund is for qualified investors and by Prospectus only. Nothing herein should be construed otherwise. THE INSIDERS FUND prefers to invest in companies at or near prices that management has been willing to invest significant amounts of their own money in, but we have no requirement to do so. We also invest in many companies in anticipation of future insider buying or with the expectation that there is none at all.
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Prosperous Trading,
