[Insider Alert] CEOs Making Big Moves in October

Author

David Love
October 21, 2024

QUIVER STRATEGIES
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In today’s edition:

DATA ROUNDUP
Insider Trading October Update

Insider trading activity in October has been notably active, with significant movements across various sectors. New Fortress Energy's (NFE) CEO made a historic $50 million purchase, yet the stock dipped 6%.

Shattuck Labs (STTK) saw its CEO make his largest purchase in three years, resulting in a 20% stock surge. A Director at Cartesian Therapeutics (RNAC) invested $4.33 million, though the stock declined 6.73%.

Dave & Buster's (PLAY) CEO's $500,000 purchase led to a 3% rise, while Neogen's (NEOG) CEO saw a 5.3% increase after a $200,000 investment. Delek Logistics Partners (DKL) experienced multiple executive purchases following a 12% price drop, with mixed results.

Worthington Enterprises (WOR) and Marvell Technology (MRVL) saw stock increases of 6.41% and 7.18% respectively after insider purchases.

September trades also showed promising outcomes. Capricor Therapeutics (CAPR) saw a staggering 273.47% increase after a major stakeholder's $15 million investment.

Coherent Corp's (COHR) stock rose 38.63% following the CEO's purchase.

These insider activities offer valuable insights into potential stock movements. While not all purchases immediately correlate with positive stock performance, they often signal confidence in a company's future prospects. Investors should consider this information alongside comprehensive market analysis for informed decision-making.

For timely updates on insider trading activities, follow @InsiderRadar on X. Remember, past performance doesn't guarantee future results, and it's crucial to conduct thorough research before making investment decisions.

Insights from our Insider Trading Dashboard

POLITICS
Last Week’s Congressional Trades

Insights from our Congress Trading Dashboard

Several members of Congress have already made millions of dollars in the stock market in 2024:

  • Nancy Pelosi is now worth $257M, per our estimates. She has made over $12M in the stock market in just over a month. Our Nancy Pelosi Strategy is up 42% in the last year.

  • Raytheon (RTX), has agreed to pay $950M to resolve charges of defrauding the US Department of Defense. Last November 2, we reported on a purchase of RTX my Senator Markwayne Mullin (R), a purchase he made 10/03/2023. This trade has now risen 76% since compared to a 38% rise in the S&P 500.

  • On 9/09/2024, Senator John Hickenlooper’s (D) spouse sold up to $250k in Liberty Media Corporation Series C stock (LSXMK). The trade is down 2% since compared to a 1% increase in the S&P 500.

NEWS
Coca-Cola (KO) Faces Challenges Amid Macroeconomic Headwinds

The beverage and household care sectors saw notable market activity this past week, with earnings season fully underway. Coca-Cola (KO) is expected to release slightly underwhelming results for its third quarter of 2024, as macroeconomic challenges continue to weigh on the company. Despite ongoing inflationary pressures and supply chain disruptions, Coca-Cola has remained resilient but is not immune to the broader industry struggles, particularly in key markets like China and the U.S., where promotional intensity remains high. Additionally, higher input costs such as coffee prices are a concern for competitors like Keurig Dr Pepper (KDP), which is also expected to report in-line results for the third quarter, though these costs may affect full-year 2025 projections.

Ready-to-drink (RTD) beverages continue to disrupt the cold storage segment, presenting both a challenge and an opportunity for beer companies. Brands like Mark Anthony and competitors have leveraged innovation in the RTD space to capture market share, adding to the competition faced by legacy beer companies like Anheuser-Busch InBev (BUD). Pernod Ricard, meanwhile, reported soft earnings, particularly in the U.S. and China, as it navigates aggressive promotions and weak consumer demand.