Insider Buying

The March insider buyings that fueled stock prices to whopping highs

The collage of six companies ($FOXT, $TOU, $FOUR, $EOLUB, $HYVE & $NEWAB) - showing the insider buying in March 2022 - are displayed in black & white theme. (edited)

Insider buying is a notable trading strategy where the insiders at a company purchase their company shares. Previously, analysts at 2iQ covered certain companies where insiders made clever purchases of stock prior to significant rises in the stock’s value. Today, we’re looking at insiders who stocked up in March’22. 

Foxtons Group PLC (FOXT:LN)

The London-based company caters to the residential property sector in the country. Founded in 1981, the company possesses a current M Cap of £145.79 million as of April 19. 

In a sequence of recent stock purchases by insiders, FOXT saw its stock price climb to new highs. Twice in March’22, Nigel Mervyn Rich - Chairman at Foxtons - bought company stock. His first purchase on March 09, covered by 2iQ, was of 150,000 shares for £32.75 per share, worth in all approx. £50,000. Comparing closing prices from that day to the present, specifically April 19, FOXT’s value has soared by nearly 33.44%.

Insider Buying and Selling Chart - Foxtons Group PLC (FOXT:LN)

Rich’s second trade, this time of a meager quantity, came on March 31. He bought 30,113 shares for almost £12,000. By this time, the price had risen to close at £43.00. Later on April 01, Foxtons CFO Chris Hough also joined the chairman in purchasing company stock. 

Rich joined the board of Foxtons in October 2021, coming from a past experience serving as the Chairman at other real estate companies. News dictated that Rich’s appointment to replace former chairman, Ian Barlow, was due to Investors’ pressure over Barlow’s handling of salaries and payments at Foxtons. There was also a certain concern about the company’s stock price which had fallen sharply in 2021.

Tourmaline Oil Corp (TOU:CN)

This Energy company has circulated in the 2iQ office multiple times due to the large number of insider purchases reported. Founded by Michael L. Rose in 2008, Tourmaline is a Canadian company that explores and produces oil and gas properties. Currently, the company has an M Cap of 21.78 billion CAD. 

Michael L. Rose, Tourmaline’s founder, chairman, president, and CEO bought TOU shares on four occasions in March’22. The net worth of Rose’s trades, of 20,000 shares, came out to approx. 977K CAD. The price varied between the founder’s first and last trade in March; TOU was priced at 50.63 CAD on March 09 and 48.78 CAD on March 15. On April 22, the energy stock closed at 62.98 CAD. Compared to the stock price on Rose’s last trade, the stock soared by 29.11%.

Insider Buying and Selling Chart - Tourmaline Oil Corp (TOU:CN)

Around the same time as the stock trades, Tourmaline dropped its 2021 earnings report, stating that the company had earned a record-breaking free cash flow of $1.49 billion in 2021.

Shift4 Payments (FOUR:US)

Shift4 Payments is an American company specializing in payment processing and technology services since 1999. Based in Pennsylvania, the company presently has an M Cap of $3.07 B.

While the company saw many of its insiders' trading in March, the only purchases were by Jared Isaacman, the company’s Founder, Chairman & CEO. Isaacman bought FOUR stocks three times: March 09, 10 & 14. In total, the trades were of 237,958 shares worth an approx. worth of $11.4 million. On March 09, the stock was worth $45.77 per share. As of the moment, the stock price closed at $51.05 on April 22, giving away a price rise of 11.54%.

Insider Buying and Seliing Chart - Shift4 Payments (FOUR:US)

Shift4 commenced March with acquisition news: it will be acquiring Finaro - an eCommerce company - and The Giving Block - a crypto fundraising platform. Later on March 15, the company kickstarted a campaign to raise $20 million worth of funds for nonprofit organizations with the help of The Giving Block. 

Eolus Vind AB (EOLUB:SS)

A Capital Goods company, Eolus Vind AB specializes in the energy market and possesses a current M Cap of 2.83 billion SEK. 

Hans-Goeran Arras Stennart, Chairman of the Board at Eolus Vind, made the sole trade in March. Stennart purchased 10,000 shares of EOLUB, worth almost SEK 843,692.76. EOLUB’s stock was worth SEK 82.12 the day of Stennart’s purchase. Since then the share value has been rising, and on April 22, closed at SEK 114.95. Comparing the two, there is a price surge of almost 34.13%.

Insider Buying and Selling Chart - Eolus Vind AB (EOLUB:SS)

Based in Sweden, Eolus develops solar energy harvesting, offshore wind farms, and the storage of renewable energy. A headline stated that the company has applied for developing three wind farms in the Baltic Sea, with a possible completion date in 2031.

Hyve Group Plc (HYVE:LN)

Hyve is an entertainment company based in the United Kingdom. The company was founded in 1991 and focuses on organizing trade exhibitions, in-person events, & conferences. Presently, the company has an M Cap of £226.02 million. 

So far Hyve insiders have only traded in March albeit in a cluster buying. Three Insiders: Chairman Richard Last, Founder/CEO Mark Samuel Shashoua, and CFO John Gulliver stocked up on net 286,114 shares of HYVE worth almost £170K. On March 02, the day of the cluster buying HYVE closed at £61.00 and later climbed to £76.50 on April 21; the price went up by 25.41% in less than two months.

Insider Buying and Selling Chart - Hyve Group Plc (HYVE:LN)

Among Hyve’s few announcements for the month, one declared that Hyve would be exiting the Russian market in the wake of Ukraine’s invasion. The second news was that Fintech meetup would be joining the Hyve Group. Of the event, CEO Mark Shashoua said, “The addition of Fintech Meetup to our group delivers on Hyve’s goal to acquire market-leading events in large industries that are undergoing dramatic, decades-long, technology-driven changes.

New Wave Group AB (NEWAB:SS)

Another stock that rose substantially in post-March, is NEWAB. New Wave is a Consumer Apparel company with a current M Cap of 8.87 billion SEK. Founded in Sweden in 1989, the company works in designing and acquiring brands. The company primarily operates in Gifts & Home Furnishings, Sports & Leisure, and Corporate. 

Torsten Jansson, Founder/CEO, and Goeran Haerstedt, Deputy CEO, were the only two insiders who traded NEWAB stock in March. From March 08 to 10, both insiders bought a total of 160,752 shares, valued at a net 20.7 million SEK. The stock was priced at 123.00 SEK on March 08 and later closed at 190.10 SEK on April 22. This showcased an increase of 53.06%. 

Insider Buying and Selling Chart - New Wave Group AB (NEWAB:SS)

In the company’s recent annual report for 2021, net sales had risen by 10% compared to 2020. The company’s CEO, Torsten Jansson also noted in the star-studded report that: “We are entering 2022 stronger than ever. It is a historic event to pass SEK 1 billion.” Considering the price rise and the successful earnings of the company, despite the ongoing aftermath of COVID-19, the company looks like it is headed to new highs. 

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