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Multiple Fascinating Insider Purchases – Insider Weekends

  • May 19, 2024

While there are some weeks where we struggle to find an interesting company with an insider transaction worth writing about, every so often, we find ourselves in the exact opposite situation. This week was one of those weeks where there were simply are too many companies worth writing about. Thus, instead of writing about a single company, we’ve touched on multiple companies and purchases in our list of top insider buys below. I was especially excited to see the “Amazon of South Korea”, Coupang, on the list because the purchase meets a key signal I look for. When a long-serving independent board member with an investing background purchases shares,  I pay attention.

Welcome to edition 734 of Insider Weekends. Insider buying increased significantly last week with insiders purchasing $128.06 million of stock compared to $46.93 million in the week prior. Selling also increased to $3.58 billion compared to $2.14 billion in the week prior.

Sell/Buy Ratio: The Insider Sell/Buy ratio is calculated by dividing the total insider sales in a given week by the total insider purchases that week. The adjusted ratio decreased to 28.01. In other words, insiders sold more than approximately 28 times as much stock as they purchased. This week the Sell/Buy ratio was favorable; compared to the prior week when the ratio stood at 45.67.

Notable Insider Buys:

1. Transocean Ltd (RIG): $6.03

Director Frederik Wilhelm Mohn acquired 2,000,000 shares of this offshore drilling services company, paying $6.01 per share for a total amount of $12.02 million. These shares were acquired indirectly through Perestroika AS.

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