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Steve Strazza

Sumitomo Mitsui Reports a $55 Million JEF Purchase

September 20, 2024

The most notable insider activity on today's list comes via a Form 4 filing by Sumitomo Mitsui Financial Group.

The Japanese financial company reported a purchase of $55 million in Jefferies Financial Group $JEF.

Here’s The Hot Corner, with data from September 19, 2024:

240920_hot_corner_table

Mario Gabelli's GAMCO Investors is back on our list, this time, filing a 13D revealing an increase in ownership in Herc Holdings Inc $HRI from 5.23% to 6.97%.

In another Form 4, director Seth H. Waugh revealed an acquisition of 32,600 shares of Yext Inc $YEXT.

JEF is breaking out from a decade-long base.

We always want to pay attention every time we see stocks break out from massive bases like this:

240920_hot_corner_jef

The stock has been showing impressive strength relative to its peers and is trading at new all-time highs.

The path of least resistance is clearly higher.

Have a great weekend. We'll be back on Monday with more insider activity.

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