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Steve Strazza

Control Empresarial Buys Another $30.8 Million Worth of PBF

June 26, 2024

The most significant insider purchase today is from Control Empresarial de Capitales S.A., which disclosed a $30.8 million acquisition of PBF Energy Inc $PBF shares through a Form 4 filing.

Additionally, the Mexico-based investment firm reported buying 8,264,462 shares of ProKidney Corp $PROK, valued at approximately $20 million.

 

Here’s The Hot Corner, with data through June 25, 2024:

240626_hot_corner_table

In another Form 4, director Xiangmin Cui reported a purchase of $1,492,385 in the small-cap biotechnology company Nuvation Bio Inc $NUVB.

And director Brendan Paddick disclosed a purchase in Liberty Latin America Ltd $LILA for $3,577,620.

LILA has been carving out a bearish-to-bullish reversal pattern for the last two years:

240626_hot_corner_lila

While price is still about 8% away from the upper edge of the base, director Paddick stepping in with a huge purchase is an expression of confidence in the long-term prospects of the company. 

If and when the resistance zone around 10 is reclaimed, the bulls will be back in control. Until then, patience.

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

And please reach out with any questions. We love hearing from you!

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