Insider Activity Heats Up: Wednesday’s Top Buys and Sells Revealed
This article summarizes the most significant insider buying and selling activities reported for Wednesday, September 11, 2024, in US stocks.
Top Insider Buys:
AA Mission Acquisition Corp. (NYSE:AAM): Sun Qing Bill, the Chief Executive Officer of AA Mission Acquisition Corp., has made a substantial investment in the company. The CEO acquired 90,000 Class A ordinary shares at $10.00 per share, totaling $900,000. This purchase increased Sun’s holdings to 9,474,000 shares, demonstrating a strong vote of confidence in the company’s future. The acquisition was made as a direct investment, with Sun having sole voting and investment discretion over the shares held by the sponsor.
QDM International Inc. (OTC:QDMI): Zheng Huihe, CEO and President of QDM International Inc., has significantly increased his stake in the company. On February 1, 2023, Zheng purchased 120 million shares at $0.0081 per share, amounting to a total investment of $972,000. This transaction, which was part of a public offering by the issuer, has boosted Zheng’s total holdings to 121.59 million shares. As the chairman of the board of directors, this substantial purchase reflects Zheng’s confidence in the company’s prospects.
Relmada Therapeutics , Inc. (NASDAQ:RLMD): Two top executives at Relmada Therapeutics have made significant purchases of the company’s common stock. CEO Sergio Traversa acquired a total of $395,114 worth of shares over three days, from September 9 to September 11, 2024. The purchases were made at varying prices ranging from $2.51 to $3.05 per share. Additionally, CFO Maged Shenouda invested $149,700 in the company’s stock over the same period, with purchase prices ranging from $2.49 to $3.05 per share. These insider buys signal strong confidence in the pharmaceutical company’s future.
Top Insider Sells:
MADRIGAL Pharmaceuticals, Inc. (NASDAQ:MDGL): William John Sibold, President and CEO of MADRIGAL Pharmaceuticals, sold 6,363 shares at $243.83 per share, totaling approximately $1.55 million. The transaction, which took place on September 9, 2024, was executed to cover tax withholding obligations related to the vesting of restricted stock units. Following this automatic sale, Sibold’s direct ownership in the company stands at 55,887 shares.
Compass, Inc. (NYSE:COMP): CEO Robert Reffkin has sold a substantial portion of his holdings in Compass, Inc. Over two consecutive days, Reffkin sold a total of 944,302 shares, amounting to $5,594,257. The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 10, 2024, with share prices ranging from $5.90 to $5.99.
Amalgamated Financial Corp. (NASDAQ:AMAL): Multiple executives at Amalgamated Financial Corp. have sold shares totaling over $5.1 million. The sales occurred at prices ranging from $29.9586 to $31.0669 per share. Additionally, Workers United, a collective of labor organizations, divested a significant portion of its holdings in the company, selling shares over several days at prices between $29.84 and $31.2350.
Carvana Co. (NYSE:NYSE:CVNA): Ernest C. Garcia II, a major shareholder in Carvana Co., has sold 62,639 Class A Common Stock shares in a series of transactions. The sales, which occurred over two consecutive days, were executed at prices ranging from $125.0328 to $138.1025, amounting to over $19 million in total value.
Investors should stay tuned to insider buying and selling activities as they can provide valuable insights into a company’s internal perspective. While insider transactions alone should not be the sole basis for investment decisions, they can offer clues about a company’s health and future prospects when considered alongside other financial and market indicators.
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