InsiderEdge™️ Highlights: May 2024’s Top Insider Trades
Throughout May, InsiderEdge™️ by BBAE, our premier analytics tool for corporate insider trading, diligently analyzed the month’s SEC reporting data to bring you the highlights of corporate insider trading activity. As always, these are published daily within the BBAE app. With its AI-driven capabilities, InsiderEdge™️ deciphers complex signals from the corporate insider trading world, translating SEC filings into a curated list of top investing signals. These insights offer a window into the confidence levels of those who know their companies best—corporate insiders.
May has been another stellar month for InsiderEdge. Let’s dive into the highlights.
Orion Group Holdings Inc ($ORN)
- Trade Spotlight: On May 1st, the EVP & General Counsel purchased 1,000 shares at $7.03/share, investing $7,031. This increased their holdings by 1.4%.
- Stock Price Activity: The stock jumped to $10.26, a substantial 45.9% increase from the purchase price.
- Implications of the Trade: ORN insiders boast perfect 100% win rates in 1-month, 3-month, and 1-year periods, with an astonishing 111% 1-year weighted return. Despite being their fourth-largest purchase, the EVP’s buy, along with two other insider purchases, suggests strong collective faith. Great trade!
PENNS WOODS BANCORP INC ($PWOD)
- Trade Spotlight: On May 1st, a Director acquired 3,000 shares at $17.29/share, investing $51,870. This significant buy increased their stake by 9.5% and was their largest purchase out of 2.
- Stock Price Activity: The stock appreciated to $20.21, a 16.9% increase from the purchase price.
- Implications of the Trade: PWOD insiders show a perfect 100% win rate across all periods, with steady, consistent returns. The Director’s largest-ever purchase, combined with four other insider buys, indicates widespread confidence. Steady performer!
Meridian Corp ($MRBK)
- Trade Spotlight: On May 6th, the EVP & Chief Financial Officer bought 2,500 shares at $8.98/share, investing $22,445. This was their second-largest purchase out of 7 and increased their holdings by 3.1%.
- Stock Price Activity: The stock rose to $10.60, an 18% increase from the purchase price.
- Implications of the Trade: MRBK insiders have mixed short-term results but impressive long-term performance, with 100% 1-year win rate and 48% weighted return. The CFO’s significant purchase, along with another insider buy, suggests growing confidence. Strong long-term outlook!
Vestis Corp ($VSTS)
- Trade Spotlight: On May 7th, a Director acquired 110,000 shares at $10.02/share, a substantial $1.10M investment. Despite being their fourth-largest out of 17, this massive buy increased their stake by 353.3%.
- Stock Price Activity: The stock climbed to $12.36, a 23.4% increase from the purchase price.
- Implications of the Trade: VSTS insiders have strong win rates across all periods, particularly an 81% 1-month win rate. The Director’s substantial purchase, significantly boosting their holdings, suggests high confidence. Another insider also bought shares. Nice trade!
Corvus Pharmaceuticals, Inc. ($CRVS)
- Trade Spotlight: On May 8th, the SVP of Pharmaceutical Development bought 20,000 shares at $1.73/share, investing $34,624. This was their largest purchase out of 2 and increased their holdings by 13.1%.
- Stock Price Activity: As of the latest data, the stock rose to $2.21, a significant 27.7% increase from the purchase price.
- Implications of the Trade: Despite a 3-month dip, CRVS insiders show perfect 100% win rates in 1-month, 6-month, and 1-year periods with impressive returns, especially the 187% 6-month return. The SVP’s largest-ever purchase signals strong confidence. Another insider also bought. Phenomenal trade!
TELOS CORP ($TLS)
- Trade Spotlight: On May 15th, a Director bought 84,063 shares at $3.14/share, investing $264K. Despite being their fifth-largest purchase out of 5, it increased their holdings by 8.1%.
- Stock Price Activity: The stock rose to $3.97, a 26.4% increase from the purchase price.
- Implications of the Trade: This insider has 75% win rates across all periods, with notably high 3-month (58%) and 6-month (35%) weighted returns. The Director’s purchase, along with three other insider buys, signals strong collective confidence. Solid trade!
Deciphering The Signals
Looking at insider trades can give investors potential insights into a company’s future. An insider buying stock suggests they believe the stock will rise, indicating potential growth or undervaluation. Conversely, insiders selling shares could signal various things: they might need to liquidate assets for personal reasons, or it could hint at perceived overvaluation or upcoming challenges for the company.
However, it’s crucial to understand that insider trading is just one piece of the puzzle. While insider trades can provide valuable context, they are not infallible predictors of stock performance. Investors should always look at the bigger picture, including market conditions, company performance, industry health, and economic indicators, before making investment decisions.
InsiderEdge™️ serves as a valuable tool for investors who wish to incorporate insider trading data into their analysis. By spotlighting significant insider trades, it enables investors to potentially align their strategies with those who have the deepest insights into their companies — the corporate insiders.
Disclaimer: The content provided by InsiderEdge™ is for informational purposes only and does not constitute investment advice, an offer to sell, or a solicitation of an offer to buy any securities. The historical performance noted in this post is not is not indicative of future results. Investing involves risk, including the potential loss of principal. Use the platform at your own risk and consult a financial advisor before making any investment decisions. In partnership with Yellowbrick Investing Inc.
