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Investing.com – Insider trading can serve as a bellwether for investors as the executives leading a company signal confidence – or lack thereof – through their purchases or sales of that company’s shares. And hedge fund activity can indicate big changes on the horizon.
Here are some of the biggest pieces of news for insider and hedge fund activity from the past week, as first reported on InvestingPro+.
Insider Trades
Coca-Cola (NYSE:KO) Director Herbert Allen bought $2 million worth of shares on Oct. 28: 33,200 shares at $60.1793 apiece. Shares slipped 1% for the week.
Biohaven Pharmaceutical (NYSE:BHVN) CEO Vlad Coric bought some $2.5 million in stock this past week: 25,800 shares on 10/31/22 at $15.968 – $411,995 worth – following an earlier purchase of $2.1 million in stock. Shares were off 6.6% for the week.
Allegion (NYSE:ALLE) CEO John Stone bought 12,500 shares on 10/28/22 at $103.69-$104.4551, bringing his direct stake to 64,535 shares. The value of the day’s purchases was $1.3 million. Allegion stock was off 1.6% for the week.
Hedge Fund Activity
Carl Icahn confirmed an 8.5% stake n Crown Holdings (NYSE:CCK) in an SEC filing this past week. That makes him the company’s second-largest shareholder with a stake worth more than $700 million, according to the Wall Street Journal. Shares flew 9.5% higher. for the week.
Askeladden Capital said it had established an activist position in MiX Telematics (NYSE:MIXT) due to the company’s “underperformance,”. Askeladden said it owns 562,000 ADRs of the company, or 2.5% ownership. MiX shares were up 3% for the week on the NYSE.
Steven Cohen’s Point72 reported a 7.2% passive stake in Gritstone Oncology (NASDAQ:GRTS). Shares were down 18% for the week.
