The ratio of companies with insider buying compared to insider selling is at 1.75 for March, its highest level since March of 2009, according to Washington Service.
are purchasing shares while outsiders ditch riskier assets, sucking trillions in value from the U.S. stock market in recent weeks.
Insider buying activity provides "insight into which company insiders believe they have the liquidity to withstand a 1-2 month massive decline in economic activity and the solvency to withstand a 'go forward' economy that is less robust than the one left behind," Raymond James analyst Tavis McCourt said in a note to clients.
"Insiders have a 35+ year track record of buying on the type of extreme weakness experienced in Q1'20," InsiderScore director of research Ben Silverman said in a note. "A dramatic increase in insider buying volume combined with dampened levels of insider selling has resulted in the generation of industry buy inflections – our strongest, quantitative macro signal – for the entire market.
Wells Fargo CEO Charles Scharf bought about $5 million worth of stock and Planet Fitness chief Rondeau Christopher purchased about $4 million in stock earlier this month. Both stocks have lost about 40% of their values since the February highs.
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