This article presents an overview of Insider Buying Alert: CEOs Are Buying These 5 Stocks. For a detailed overview of such stocks read our article, Insider Buying Alert: CEOs Are Buying These 10 Stocks.
5. Skyworks Solutions (NASDAQ:SWKS)
Number of Hedge Fund Investors: 31
Skyworks Solutions (NASDAQ:SWKS) posted strong quarterly results on April 30, beating both EPS and revenue estimates. On May 2, Skyworks Solutions’ (NASDAQ:SWKS) CEO Liam Griffin gobbled up 11,142 shares of Skyworks Solutions (NASDAQ:SWKS) at $90 per share. The total value of this transaction was $1 million. Since then through May 7 the stock is up 4%.
As of the end of the fourth quarter of 2023, 31 hedge funds out of the 933 funds tracked by Insider Monkey reported having stakes in Skyworks Solutions (NASDAQ:SWKS).
4. J B Hunt Transport Services Inc (NASDAQ:JBHT)
Number of Hedge Fund Investors: 35
Transportation and logistics company J B Hunt Transport Services Inc (NASDAQ:JBHT) took a hit last month when the company reported weak quarterly results. However, a few days after these results, J B Hunt Transport Services Inc’s (NASDAQ:JBHT) CEO John N. Roberts, piled into 6,200 shares of J B Hunt Transport Services Inc’s (NASDAQ:JBHT) stock at a price of $161.06 per share. The transaction took place on April 26. Since then through May 7, the stock is up 3.3%. Roberts will be replaced by the company’s incoming CEO Shelley Simpson on July 1.
3. Cleveland-Cliffs Inc (NYSE:CLF)
Number of Hedge Fund Investors: 39
Ohio-based mining company Cleveland-Cliffs Inc (NYSE:CLF) is one of the stocks that saw insider buying from CEOs recently. On May 1, Cleveland-Cliffs Inc’s (NYSE:CLF) CEO Lourenco Goncalves bought 60,000 shares of Cleveland-Cliffs Inc (NYSE:CLF) at $16.76 per share. Since then the stock has gained about 5%. The total worth of this transaction was about $1 million. The transaction came after Cleveland-Cliffs Inc (NYSE:CLF) posted weak quarterly results on April 22. Adjusted EPS in the quarter came in at $0.18, missing estimates by $0.04. Revenue in the quarter fell 1.9% year over year to $5.2 billion, missing estimates by $130 million.
2. Msci Inc (NYSE:MSCI)
Number of Hedge Fund Investors: 42
Data analytics and financial solutions company Msci Inc (NYSE:MSCI) is one of the stocks that saw heavy insider buying activity from CEOs. On April 25, Msci Inc’s (NYSE:MSCI) CEO Henry A. Fernandez bought 13,000 shares of Msci Inc (NYSE:MSCI) at $465.92 per share. The total worth of this transaction was over $6 million. Since this transaction the stock price is up 2.16%.
Here is what Baron FinTech Fund has to say about MSCI Inc. (NYSE:MSCI) in its Q3 2023 investor letter:
“Solid stock selection in Information Services came from investment decision support tools provider MSCI Inc. (NYSE:MSCI). MSCI reported solid second quarter earnings and reiterated its full-year outlook due to stabilizing ESG trends along with continued robust performance in the Index and Analytics segments.”
1. Hertz Global Holdings Inc (NASDAQ:HTZ)
Number of Hedge Fund Investors: 48
Hertz Global Holdings Inc (NASDAQ:HTZ) CEO Gilbert West on April 30 bought a whopping 250,000 shares of Hertz Global Holdings Inc (NASDAQ:HTZ) at $4.46 per share. Since then through May 7 the stock is up about 9.4%.
Out of the 933 hedge funds tracked by Insider Monkey, 48 hedge funds reported owning stakes in Hertz Global Holdings Inc (NASDAQ:HTZ). The most notable stake in Hertz Global Holdings Inc (NASDAQ:HTZ) is owned by Tom Wagner and Ara Cohen’s Knighthead Capital, worth $1.8 billion.
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