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Bret Kenwell
Bret Kenwell has been publicly writing about and analyzing the stock market for more than 10 years. What started off as fundamental analysis of strong businesses has morphed into a rigorous process that blends both fundamental and technical analysis. While he still seeks out the strong businesses and dependable dividends he was attracted to early on, Bret has narrowed his focus to technology, automotive, and high-quality, high-growth businesses. In that effort, he seeks Future Blue Chips — which is also the name of his website and newsletter. Bret’s writing has sent him to unique places and events, like auto shows and industry conferences. Those excursions allowed him to fully grasp what Nvidia was showcasing at its GTC conferences and see some of the impressive updates on display at the automotive show. Through this he gained incredible insight into, and conviction in, what have become some of today’s best-performing stocks. It’s also allowed him to meet some very smart, very talented investors. Perhaps more than anything, their lessons, findings, and techniques have found a way into his process over the years. There are a million different ways to make money in the stock market. To find the process that works best for you is long and filled with setbacks. Bret’s hope is that part of his process can become part of yours; and together become better investors.
Insider Buying in 3D Systems, Live Nation and 5 Others
It's been another busy week of insider buying. Here are 7 firms that stood out the most.
Insiders can sell for a whole host of reasons, including to make other investments, buy a house and pay for life's expenses. Insider selling doesn't have to mean the insider is necessarily bearish on the underlying stock. However, insider buying only occurs for one reason: they believe the stock price is going higher.
As Peter Lynch once said: "Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise."
With that, let's look at some recent insider buying.
3D Systems (DDD)
Starting off our list is 3D Systems (US:DDD), as it has not only had insider buying but insider buying from its CEO Jeffrey Graves.
Graves also serves as a director and the company's president, so it stood out when he bought 10,000 shares at $9.70 on Nov. 25 and 10,000 shares at $9.50 on Nov. 28th.
The second purchase pushed his total stake to 569,181 total shares.
Rocket Companies (RKT)
There's been plenty of insider buying by the CEO at Rocket Companies (US:RKT). Via a 10b5-1 plan, Jay Farner has been gobbling up stock.
On Nov. 25, Farner bought 25,900 shares for $7.71 apiece. Then a flurry of action took place late in the month, as he purchased 26,400 shares on Nov. 28, 25,700 shares on Nov. 29 and 25,300 shares on Nov. 30th.
Farner scooped up 103,300 shares over a five-day stretch, with each purchase worth just over $199,000. It pushed his total stake to 5.65 million shares.
Karat Packaging (KRT)
Another CEO purchase took place this week with Karat Packaging (US:KRT). Alan Yu, who also serves as the company's chairman, bought 4,000 shares at $13.47 on Nov. 28th.
The total purchase was good for more than $50,000, although it was modest compared to his total stake of 7.371 million shares.
Carvana (CVNA)
Carvana (US:CVNA) is exciting because the company is struggling right now. It's even going through another round of layoffs, and shares recently made new 52-week lows.
Yet insiders are gobbling up the stock.
On Nov. 7, two directors bought a combined 150,000 shares between $7.40 and $8.61, while another director bought 8,000 shares at $10 apiece on Nov. 14th.
President Thomas Taira bought a combined 45,000 shares between two different dates last month, while Chief Product Officer Daniel Gill more than doubled his stake by purchasing 133,000 shares at $7.62 apiece on Nov. 21st.
Prologis (PLD)
Prologis (US:PLD) showed up on some insider buying scans this week when director David O'Connor scooped up 9,000 shares at $114.13 apiece on Nov. 28th.
The purchase was good for just over $1 million.
Live Nation (LYV)
Another $1 million insider purchase took place, this time with Live Nation (US:LYV). That's after Jimmy Iovine bought 13,740 shares at $73.28 apiece on Dec. 1st. Iovine, who is a director at the company, purchased those shares in a trust but directly owns 32,792 shares as well.
If that name sounds familiar, Iovine is co-founder of Interscope Records and Beats Electronics, which was eventually sold to Apple (US:AAPL) for $3 billion.
Cosmos Holdings (COSM)
Last but not least, we have Cosmos Holdings (US:COSM), which has been popping up in many scans over the past few weeks, given the stock's immense volatility. From the November low to the November high, shares rallied almost 1,100% but have now pulled back more than 50% in just a couple of days.
As if that volatility weren't enough, Grigorios Siokas, CEO, director and a stakeholder of more than 10% of the firm, bought more than 800,000 shares on Nov. 28 at an average price of 62 cents a share.
While the stock trades for less than $1, the purchase was good for almost $500,000 and brought his stake to more than 20 million shares.
Stories by Bret Kenwell
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