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We are just a couple of weeks from the end of the third quarter of 2024, meaning insiders still have a days of freedom to make purchases and sales without violating the soon-to-come quiet period during earnings releases. This means that we have a host of insider purchases and sales to choose from and feature in our Insider Weekends articles. Instead of trying to pick just one company to feature in this week’s article, we decided to briefly touch upon three – Aptiv (APTV), Lionsgate Entertainment (LGF.A, LGF.B), and Berkshire Hathaway (BRK.A).
Aptiv (APTV) is an Irish-American automotive technology supplier that offers advanced safety systems, electrification solutions, vehicle connectivity services, and more. The company also has operations in adjacent markets such as commercial vehicles, aerospace and defense, telecommunications, and industrial sectors.
We covered Aptiv in our most recent Buyback Wednesdays post earlier this week after the company announced a massive $5 billion buyback. The situation became all the more fascinating when Aptiv landed on top of our list of insider purchases this week. The Chairman and CEO, Kevin P. Clark purchased 29,770 shares for a total of $1.95 million.
We wrote the following about the share repurchase program in that article:
Last month, Aptiv PLC (APTV) announced a major $5 billion buyback, accounting for over one-fourth of its market cap at the time of announcement. The company also revealed plans to immediately launch a $3 billion ASR (Accelerated Share Repurchase) under existing and new authorizations. The combination of high short interest in the company (19 days to cover and 14% of float is short) and an accelerated share repurchase plan can create interesting price dynamics and we decided to take a closer look at the company.