There was notable insider buying in the final days of May, though, from lower-profile executives.
The biggest move came from two insiders at a small investment firm — Oxford Lane Capital — who combined to buy $50 million worth of the stock. That is a sizeable position for a company with a market cap below $2 billion.
Elsewhere, the $2.4 million buy from Petco director Cameron Breitner is worth highlighting because Breitner is a senior advisor with CVC Capital Partners, one of the company’s biggest shareholders. This insider activity could indicate confidence in their respective companies’ futures.
Here are the biggest insider buys, according to securities filings and VerityData:
Oxford Lane Capital (NASDAQ: OXLC)
- CEO Jonathan Cohen and President Saul Rosenthal each bought 4.63 million shares at an average price of $5.40 for a total of $25 million.
FTAI Aviation (NASDAQ: FTAI)
- CEO Joseph Adams Jr. bought 59,000 shares at an average price of $82.00 for a total of $4.84 million. This reflects shares purchased in an underwritten public offering that closed Thursday.
Petco Health & Wellness (NASDAQ: WOOF)
- Director Cameron Breitner bought 750,000 shares at an average price of $3.14 for a total of $2.35 million.
Agree Realty (NYSE: ADC)
- Director John Rakolta Jr. bought 20,000 shares at an average price of $59.32 for a total of $1.19 million.
Claros Mortgage (NYSE: CMTG)
- CEO Richard Mack bought 160,000 shares at an average price of $7.20 for a total of $1.15 million. Shares were down nearly 17% over the prior three months.
This insider buying activity might signal strong confidence in the future prospects of these companies. Stay informed and consider how these insider moves might influence your investment decisions.
