Park Hotels & Resorts (PK): $12.39
Market Cap: $2.50B
Enterprise Value: $6.48B
Even as the NASDAQ dropped more than 10% into correction territory this week, the floodgates opened for insider buying. This is a pattern we see often – where insiders step up during periods of crisis or turmoil and start buying shares. The buying this week was broad-based but energy sector insiders seem to be the most prolific buyers. Most notably, we saw consistent buying at Matador Resources (MTDR) for several days and we also saw buying in Expand Energy (EXE), the largest natural gas producer in the U.S. that was created through the merger of Chesapeake Energy with Southwestern Energy.
But the insider transaction that stood out to us most this week wasn’t related to the energy sector, nor did it make our list of top insider purchases or sales. Instead, we discovered the company when compiling a list of daily insider purchases from our Daily Event Driven Monitor and figured it was worth a closer look in our article this week.