Cluster buys
Companies where two or more different insiders bought shares on the open market in the last 30 days, most buyers first. Each is several people deciding separately to put their own money into the same stock.
For every single purchase, not just clusters, see the insider buying list.
- Cluster buys
- 0
- Insiders involved
- 0
- Bought in clusters
- —
- Most buyers in one
- 0
No cluster buys in the last 30 days of filings. They are rare — which is what makes one worth noticing.
Questions
- What is a cluster buy?
- Two or more different insiders at the same company buying its stock on the open market within a short window. One insider buying can have many explanations; several people independently spending their own money on the same stock is harder to explain away, which is why cluster buys are the most watched pattern in insider data.
- Are cluster buys a buy signal?
- No signal is. Clusters sometimes follow a sharp price drop that insiders consider overdone, sometimes a board agreeing to show support, and sometimes a financing. This site's backtest of recent filings found insider purchases as a group lagged the S&P 500 over the next 90 days. Use a cluster as a reason to read the company's filings, not as a trade.
- Which insiders count?
- Officers, directors and holders of more than 10% who file Form 4. Each person is counted once per company however many separate purchases they made; only open-market purchases (transaction code P) count, never grants or option exercises.
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