Streetbeat News

Insider Trading

TSLA

Senator Tommy Tuberville's bet against Tesla with put options backfired as the stock rallied past $250. Tuberville bought three lots of Tesla put options with a strike price of $190 expiring on Dec. 15, 2023. Tesla's stock fell after Q3 earnings but has since recovered, rendering the senator's options likely worthless. Elon Musk commented on the trade, calling those betting against Tesla 'Gluttons for punishment.'

Portfolio Pulse from Shanthi Rexaline

December 17, 2023 | 1:26 pm

GIL

Pzena Investment Management, a firm owning over 10 million shares of Gildan Activewear Inc., has issued a letter to Gildan's Board of Directors urging the re-appointment of Glenn Chamandy as CEO. Pzena has a 28-year history and is taking an active stance in the company's leadership decisions.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 9:25 pm

MRAI

Marpai, Inc. has entered into a Securities Purchase Agreement with Hillcour Investment Fund, which is controlled by the company's CEOs, according to an SEC filing on December 14.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 2:08 pm

CXDO

DCTH

ELYS

TWOU

Insiders at Delcath Systems, 2U, Crexendo, and Elys Game Technology have recently purchased shares of their respective companies. Delcath Systems' Chief Medical Officer bought 40,000 shares at $3.00 each, while 2U's Chief Product Officer acquired 51,565 shares at $0.99 each. Crexendo's Chief Revenue Officer purchased 2,000 shares at $3.03 each, and Elys Game Technology's 10% owner bought 807,530 shares at $0.16 each. These transactions may signal insider confidence despite Delcath Systems' poor quarterly results and 2U's mixed financial results with reduced revenue guidance.

Portfolio Pulse from Avi Kapoor

December 15, 2023 | 2:00 pm

DDOG

HSII

LPX

WM

Insiders at Louisiana-Pacific, Datadog, Waste Management, and Heidrick & Struggles International have recently sold shares. Louisiana-Pacific's SVP sold shares after Q3 sales beat consensus. Datadog's General Counsel sold shares following strong Q3 results and guidance. Waste Management's CEO sold shares after a dividend increase announcement. Heidrick & Struggles' CFO sold shares post better-than-expected Q3 results. Insider sales can indicate various sentiments and should not be the sole basis for investment decisions.

Portfolio Pulse from Avi Kapoor

December 15, 2023 | 12:54 pm

CHWY

DEA

HI

Insider purchases were made in Chewy, Inc. (CHWY), Easterly Government Properties, Inc. (DEA), and Hillenbrand, Inc. (HI). CHWY's director acquired shares despite FDA warnings about unapproved drugs. DEA's chairman, soon to be CEO, bought shares, and HI's director made purchases following strong Q4 results. Insider buying can signal confidence in the company's prospects or undervaluation.

Portfolio Pulse from Avi Kapoor

December 15, 2023 | 11:15 am

SHIP

Seanergy Maritime's Chairman & CEO, Stamatis Tsantanis, plans to purchase up to $1M of the company's common shares in the open market. This move signals confidence in the company's future and may positively influence investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 10:13 pm

RLI

RLI Corp. announced the retirement of Jonathan E. Michael as Chairman of the Board, effective at the conclusion of the 2024 Annual Meeting of Shareholders in May. Michael, who has over 40 years of service with RLI and retired as CEO in 2021, led the company through significant diversification and consistent growth. David B. Duclos, with 45 years of industry experience, will succeed Michael as Non-Executive Chairman. Duclos has been a Director since 2017 and is the current lead independent director. The leadership transition is part of the company's established succession plan.

Portfolio Pulse from Benzinga Newsdesk

December 14, 2023 | 9:14 pm

V

Arkansas Representative French Hill reported purchasing $50,001 - $100,000 worth of Visa (NYSE:V) stock on December 13, 2023. Visa shares were trading up 0.29% at $263.15 following the report. Congressional transactions are monitored under the STOCK Act, which prohibits using non-public information for personal gain and requires prompt disclosure of trades.

Portfolio Pulse from Benzinga Insights

December 14, 2023 | 3:05 pm

PM

Arkansas Representative French Hill reported selling $100,001 - $250,000 worth of Philip Morris Intl (NYSE:PM) stock on December 13, 2023, according to a filing. While Congressional transactions can be a factor for investors to consider, they should not be the primary basis for investment decisions. The STOCK Act prohibits Congress members from using non-public information for personal gain in stock trading.

Portfolio Pulse from Benzinga Insights

December 14, 2023 | 3:05 pm