The most significant insider buy on today’s list comes via a Form 4 filing by MFN Partners LP.
The hedge fund reported an acquisition of 10,266,810 shares of RXO Inc $RXO, equivalent to $207 million.
Abdiel Capital LP revealed an additional $12.8 million purchase in Appian Corporation $APPN.
Here’s The Hot Corner, with data from August 14, 2024:
Mario Gabelli’s GAMCO Investors is back on our list, this time filing a 13D for Dril-Quip Inc $DRQ showing a 0.20% increase in its ownership stake.
The president and CEO of Customers Bancorp Inc $CUBI revealed a purchase of $113,832.
Over in Washington, Rep. Jonathan Jackson of Illinois revealed purchases worth between $15,000 and $50,000 in Coupang Inc $CPNG and The AES Corporation $AES.
And director David R. Ebsworth revealed an acquisition of 36,000 shares in Verona Pharma plc $VRNA.
The stock built a base for roughly six years. This week, buyers absorbed all the overhead supply at the upper bounds of the range, pushing prices to new all-time highs:
If this breakout sticks, the path of least resistance is to the upside.
Stay tuned. We'll be back on Friday with more insider activity.
