Monday’s Top Insider Moves: Significant Buys and Sells in U.S. Stocks

This article highlights the notable insider buying and selling activities reported for US stocks on Monday, October 7, 2024.

Top Insider Buys:

• Lifecore Biomedical, Inc. experienced significant insider buying, with entities linked to Wynnefield Capital acquiring a total of $1.2 million in common stock at a price of $4.10 per share. This purchase reflects the growing commitment of Wynnefield Partners Small Cap Value LP I and Wynnefield Partners Small Cap Value LP to the pharmaceutical preparations firm.
• Armada Hoffler Properties, Inc. saw Director Russell Kirk purchase 898.9 shares at approximately $10.82 each, amounting to around $9,727. This transaction was completed through a broker-sponsored dividend reinvestment program, emphasizing Kirk’s ongoing support for the company.

Top Insider Sells:

• Scholar Rock Holding Corp experienced considerable insider selling, with COO and CFO Edward H. Myles divesting 172,240 shares across multiple transactions, resulting in proceeds of over $5.4 million. Additionally, Director Srinivas Akkaraju sold stock worth more than $34 million, with share prices ranging from $27.50 to $32.50.
• Berkshire Hathaway Inc. reduced its position in Bank of America Corp by selling approximately $383 million worth of shares over three days, with average prices between $39.25 and $40.05 per share.
• Vertex, Inc. shareholder Jeffrey Westphal sold 1,225,000 shares of Class A common stock at an average price of $39.42, totaling around $48.29 million. This sale followed the conversion of Class B common stock to Class A shares.
• Carvana Co. stakeholder Ernest C. Garcia II divested a significant amount of Class A Common Stock, exceeding $35 million. This selling occurred over two days, with prices ranging from $174.71 to $182.15 per share.

Investors should keep an eye on insider buying and selling activities, as these can provide valuable insights into a company’s future prospects. While such transactions should not be the sole basis for investment decisions, they can complement other financial analyses and market research.