Monday's Top Insider Moves: Notable Buys and Sells in US Stocks

This article summarizes the most significant insider buying and selling activities reported for US stocks on Monday, October 7, 2024.

Top Insider Buys:

• Lifecore Biomedical, Inc. (NASDAQ:LFCR) saw entities associated with Wynnefield Capital collectively purchase $1.2 million worth of common stock at $4.10 per share. This acquisition by Wynnefield Partners Small Cap Value LP I and Wynnefield Partners Small Cap Value LP demonstrates their increased commitment to the pharmaceutical preparations company.

• Armada Hoffler Properties, Inc. (NYSE:AHH ) Director Russell Kirk acquired 898.9 shares at $10.8219 per share, totaling approximately $9,727. This purchase was made through a broker-sponsored dividend reinvestment program, indicating Kirk's ongoing commitment to the company.

Top Insider Sells:

• Scholar Rock Holding Corp (NASDAQ:SRRK ) saw significant insider selling. COO & CFO Edward H. Myles sold 172,240 shares in multiple transactions, generating proceeds exceeding $5.4 million. Director Srinivas Akkaraju also sold a substantial amount of stock, totaling over $34 million, with share prices ranging from $27.50 to $32.50.

• Berkshire Hathaway Inc . (NYSE:BRKa ) reduced its stake in Bank of America Corp (NYSE:NYSE:BAC ), selling shares worth approximately $383 million over three days. The transactions occurred at average prices ranging from $39.2505 to $40.054 per share.

• Vertex (NASDAQ:VRTX ), Inc. (NASDAQ:VERX) shareholder Jeffrey Westphal sold 1,225,000 shares of Class A common stock at an average price of $39.42 per share, totaling approximately $48.29 million. This sale followed a conversion of Class B common stock to Class A shares.

• Carvana Co. (NYSE:NYSE:CVNA ) stakeholder Ernest C. Garcia II sold a substantial amount of Class A Common Stock, totaling over $35 million. The transactions took place over two days, with prices ranging from $174.71 to $182.15 per share.

Investors should stay informed about insider buying and selling activities as they can provide valuable insights into a company's prospects. While insider transactions alone should not be the sole basis for investment decisions, they can offer additional context when combined with other financial analyses and market research.

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Source: Investing.com