7 Stocks With Large Insider Trading Buys

We are all familiar with the legal version of insider trading, that is by simply looking up the publicly available information of what stocks company insiders, particularly upper management, are buying. That is exactly what this week's issue of U.S. News Invested is devoted to.  Enjoy the weekend.  

AUGUST 24, 2023 Invested Advice, rankings and stock market news for investors.

Good morning, investors. Markets gain ahead of semiconductor giant Nvidia's blowout quarterly earnings call. Highlights of today's newsletter include our market insights plus these new articles: 7 Stocks With Large Insider Trading Buys Best Semiconductor ETFs to Buy in 2023 7 Best Thematic ETFs to Buy Collateralized Loan Obligations: 5 ETFs to Consider TODAY'S FEATURED STOCK STORY 7 Stocks With Large Insider Trading Buys There is a dedicated cadre of market watchers who pay close attention to stock trading by corporate insiders. And with good reason: No one knows more about the inner workings of a company than the people who run it. Insiders have responded to the market's August downturn by stepping up purchases, especially in tech stocks, say analysts at Vickers Stock Research Corp., a division of Argus Research Group that tracks insider activity. Whether that will prove prophetic, of course, remains to be seen. Here are seven companies, with a market value of at least $1 billion, where insiders have been buying this year, with a taste of analysts' perspectives on how those companies are doing. Lucid Group Inc. (LCID). Only one insider has been a major buyer at the electric vehicle company this year. But when that buyer is Saudi Arabia's sovereign wealth fund – which already owned more than 60% of Lucid – and the check is for $1.8 billion to buy 265.7 million shares, people take notice. Occidental Petroleum Corp. (OXY). Occidental is another example of a company that can get at least a publicity bump when a prominent insider buys more stock. In Occidental's case, the insider is Warren Buffett's Berkshire Hathaway Inc. (BRK.A, BRK.B), whose position in OXY stands at about 25% of the company. But the market remains cool on the Los Angeles-based oil company, with only seven of the 12 analysts who follow it calling it a buy, according to TipRanks. Click here to continue reading.   STOCK INVESTMENT YTD PERFORMANCE THROUGH AUG. 22 Lucid Group Inc. (ticker: LCID) $1.8 billion on June 22 -11.1% Occidental Petroleum Corp. (OXY) $1.8 billion between March 3 and June 28 -0.1% Symbotic Inc. (SYM) $17.8 million on July 23 215.2% CNA Financial Corp. (CNA) $178 million between May 1 and Aug. 2 -8.2% Asana Inc. (ASAN) $60.5 million between June 8 and Aug. 18 57.4% Summit Therapeutics Inc. (SMMT) $420.2 million between March 6 and March 8 -57.2% Paramount Global (PARA) $2.5 million on May 16 -13.9%