Insider Observations

The pace of insider buying slowed this past week from 23rd to 27th August 2021, however insider sentiment remains neutral with five sells for every four buy trades.

We reviewed far fewer interesting buys, likely a combination of higher stock prices (Russell 2000 +5% on the week, S&P 500 +1.5%), buyer fatigue, early Labor Day exits.

We continue to review insider buying in broken IPO’s/SPACs.

Health Care stocks and Financials led the upgrades with 4 each. Only one of this week’s upgrades had a market cap below $1Bn, which is somewhat unusual. Most of the upgrades this week were mid-cap stocks, in a $2-7Bn market cap range.

We expect one more solid week of insider activity, and then we enter September when volume begins fading the first two weeks and then shuts down the last two weeks until 3Q results have been posted.


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