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Weekly Watchlist: Insiders Buy Across Multiple Sectors

Steven Place  |  May 30, 2022

We’re seeing some big insider buying across multiple sectors. As I’ve pointed out before, that could indicate a broad market rally is on the way…

But I want to help you pick the names that could rally hardest.

So let's zoom in and look at three of the top stocks where insiders are buying in bulk.

Flagstar Bancorp (FBC)

FBC is yet another regional bank seeing some insiders scoop up shares.

We’ve seen the CFO, Ops Director, and another Director all buy shares recently, meaning we’ve got a cluster buy. 

In fact, that last Director I mentioned 2.66x’d his position. Such a huge buy is a pretty strong sign of conviction in the name, especially alongside the cluster buying.

The stock has a huge level just ahead, so don’t chase this one higher.

Carvana (CVNA)

CVNA Stock Chart
CVNA Stock Chart

Man what a roundtrip. $30 to $380 and back again. 

Back in April, the CEO attempted a “stick save” by throwing down hundreds of millions to buy the stock at $80.

Ouch — we’re back at $30, but two other insiders picked up shares recently. 

Based on the price we’re at relative to the March 2020 support levels, it’s worth a shot for a push to $60.

If you don’t want to be a hero, wait for this name to build out a base… and then take a look at it again after.

Casa Systems (CASA)

CASA Stock Chart
CASA Stock Chart

CASA gave me an example of one trade setup I’ve been hunting for recently — an insider who sold at much higher prices, and is now loading up again at a cheaper price.

In particular, one of CASA ‘s Directors sold a piece of the company back in May 2021 when the stock was trading at about $8.50.

Now he’s back and buying in the $4.00-$4.15 range…

And you have a very clear level at $3.50 to trade against.

If this guy’s buying the dip in size on his own company, it might be worth a look.

To learn more about how I follow the insiders and discover these opportunities:

Check out this free insider trading strategy presentation.

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Author:

Steven Place
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