Hot Corner Insider Articles

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

Welcome to the Hot Corner Insider Weekly Report!

As you know, we spend a lot of time tracking insider activity to come up with this universe.

But that’s only half the battle!

Once we identify the names insiders are targeting, we overlay our expert technical analysis to see if the market agrees with their actions.

While we track some of the most powerful and well-informed market participants… we aren’t just going to follow them blindly into their trades.

We want to see that the insider activity is confirmed by the trend before we get involved. 

When we can check both boxes, we identify asymmetric risk/reward setups and then jump in and ride these trends higher alongside the smart money.

You can...

The most significant insider buy on today's list comes via a Form 4 filing by Liberty 77 Fund L.P.

The private equity firm reported a purchase of 1,129,609 shares of Lions Gate Entertainment $LGF.A, equivalent to roughly $10 million.

Here’s The Hot Corner, with data from July 11, 2024:

The chief medical officer of Alto Neuroscience Inc $ANRO revealed a small purchase of $190,832 in his own company’s stock.

After a steep drawdown of 75% since its high in 2021, LGF.A has been carving out a bearish-to-bullish reversal pattern.

Price is currently in the middle of the range as buyers and sellers battle for control.

The bias is sideways for longer if the price remains stuck in this range.

However, if and when it gets back above 11.50, a new uptrend will be underway.

Have a great weekend. We'll...

Mario Gabelli and GAMCO Investors are back on our list.

GAMCO and Gabelli’s other funds filed a 13D revealing an increase in ownership from 7.25% to 8.74% in Astec Industries $ASTE.

Here’s The Hot Corner, with data through July 10, 2024:

Orion Resource Partners filed a 13G for Skeena Resources Limited $SKE revealing an initial stake of 14.51%.

ASTE has been trading in a well-defined range for the past eight years. Price is currently pressing on the lower bounds. 

The long-term moving average has been trending lower for some time now, indicating that sellers are in complete control.

This one is a no-touch if it’s below 27. Even if it holds this shelf of former lows, there is a lot of work to do before a new uptrend can be underway.

Stay tuned. We'll be back on Friday with more insider activity.

The most significant insider buy on today's list comes via a 13G filing by Artisan Partners Limited Partnership.

The investment management firm revealed an increase in its ownership stake in Twist Bioscience Corporation $TWST from 6.40% to 10.40%.

Here’s The Hot Corner, with data through July 9, 2024:

Director Lawrence Cheng announced the purchase of 4,140 shares of GameStop Corp $GME, worth $102,879 in total.

Cevian Capital filed a 13D for Smith & Nephew plc $SNN revealing an initial stake of 5.11%.

TWST has been in the base-building process for the past two years as buyers try to take control and force an upside resolution from this rounding bottom pattern.

Price is currently pressing against the upper bounds of this base.

We want to be patient and wait for a decisive breakout above 55 to confirm a valid reversal in the trend....

The most significant insider buy on today's list comes via a 13G filing by Philippe Laffont’s Coatue Management L.L.C.

The investment firm revealed an initial stake of 9.20% in bitcoin miner Hut 8 Mining Corp $HUT.

RA Capital Management LP also reported an original stake of 5.90% in Recursion Pharmaceuticals Inc $RXRX in a 13G filing..

Here’s The Hot Corner, with data through July 8, 2024:

Wellington Management Company revealed a new passive stake in TPG Inc $TPG of 10.16%

Wellington also reported an increase in its Customers Bancorp $CUBI position from 5.41% to 10.18%.

The relative strength from bitcoin miners has been off the charts, as they continue to trend higher in an otherwise tough tape for the broader crypto space.

Here’s Hut 8 Corp $HUT on the verge of completing a two-year bearish-to-bullish reversal pattern.

From the Desk of Steve Strazza @Sstrazza and Alfonso Depablos @AlfCharts

Welcome to the Hot Corner Insider Weekly Report!

As you know, we spend a lot of time tracking insider activity to come up with this universe.

But that’s only half the battle!

Once we identify the names insiders are targeting, we overlay our expert technical analysis to see if the market agrees with their actions.

While we track some of the most powerful and well-informed market participants… we aren’t just going to follow them blindly into their trades.

We want to see that the insider activity is confirmed by the trend before we get involved. 

When we can check both of these boxes, we identify asymmetric risk/reward setups, and then jump in...

The most significant insider buy on today's list comes via a Form 4 filing by AP Moller Holdings.

The Danish investment company reported the acquisition of 300,000 shares of Noble Corporation $NE, equivalent to $13.2 million.

Durable Capital Partners LP filed a 13G for Doximity Inc $DOCS revealing an initial stake of 5.10%.

Here’s The Hot Corner, with data through July 5, 2024:

The CFO of Dave & Buster's Entertainment Inc $PLAY bought 13,578 shares of the restaurant stock.

NE is consolidating in a well-defined range within the context of an underlying uptrend.

However, the stock has done nothing for over a year now, still trading around the same level it was in early 2023.

The 200-day moving average has been flat for the past year, confirming the absence of any real trend.

With momentum (...

The most significant insider buy on today's list comes via a Form 4 filing by Stellantis N.V.

The multinational automaker revealed another purchase of Archer Aviation Inc $ACHR shares, this one to the tune of $55 million.

Mubadala Investment Company filed a 13G for Aris Mining Corp $ARMN revealing an initial stake of 9.30%.

Here’s The Hot Corner, with data through July 3, 2024:

Last but not least, former Speaker of the House Nancy Pelosi bought 10,000 NVIDIA Corporation $NVDA shares for a market value of roughly $1.3 million.

Pelosi also purchased 20 call options in Broadcom Inc $AVGO. They are deep in the money and expire this time next year.

Stellantis N.V has been accumulating ACHR shares, spending over $156 million since October last year.

While bulls still have some work to do, this chart suggests a textbook trend reversal could...

The most significant insider buy on today's list comes via a 13G filing by Point72 Asset Management.

The hedge fund revealed an initial stake of 5.00% in Lumentum Holdings Inc $LITE.

Here’s The Hot Corner, with data through July 2, 2024:

Pleasant Lake Onshore Feeder Fund LP disclosed a Form 4 revealing a $566,474 purchase in the small-cap home improvement retailer Tile Shop Holdings Inc $TTSH.

LITE has been carving out a massive topping formation for the past seven years.

Price is coming off the range's lower bounds as buyers and sellers battle for control.

For now, bulls are holding the line, suggesting this distribution pattern may fail and turn into a primary trend reversal. 

If this is the case, we’ll get confirmation at the year-to-date highs near 60. We like it long above there. 

The most significant insider buy on today's list comes via a 13G filing by Keith Gill, also known by his online aliases "Roaring Kitty" and "DeepFuckingValue."

Gill bought 9,001,000 shares of Chewy Inc $CHWY, which represents an initial passive ownership stake of 6.6%.

Here’s The Hot Corner, with data through July 1, 2024:

Control Empresarial de Capitales S.A revealed the purchase of $14.4 million worth in PBF Energy Inc $PBF its latest Form 4.

And the former CEO of Globalstar Inc $GSAT, James Monroe III, acquired 4,510,855 shares of his own company’s stock.

CHWY collapsed to new record lows at the end of 2023, briefly violating a multi-year shelf of  support.

However, the follow through was short-lived. Buyers reclaimed this support zone, resulting in a failed breakdown.

We think this...