Hotel Director Just Bought $1 Million Worth of Stock
Here are some of the most active stocks seeing insider buying, volume spikes, hidden institutional trading or Congressional buy activity.
Institutional Trading: MicroStrategy (SYM: MSTR)
An institution just bought $1.37 million worth of the MicroStrategy (SYM: MSTR) November 15, 2024 136 calls on Monday morning. With MSTR now up to $150, that call option is already paying off. Better, with Bitcoin attempting to push higher, MSTR should follow. That’s because MSTR now owns 252,220 Bitcoins as of September 20.
Helping, analysts at TD Cowen and Barclays just raised their price targets on the MSTR stock. Barclays raised its price target to $173 from $146. The firm believes MicroStrategy is in a “comfortable position to further accelerate BTC yield and build up the company’s war chest,” as noted by TheFly.com.
Insider Buying: Hilton Worldwide (SYM: HLT)
Hilton Worldwide (SYM: HLT) is overbought at double-top resistance and starting to pivot lower. However, do keep an eye on the hotel stock. Director Judith McHale just bought $1 million worth of HLT stock on September 10. She picked up 4,750 shares at an average price of $210.81 a share, according to a filing with the US SEC.
While the buy is impressive, we wouldn’t chase it here. Overbought and pivoting lower, HLT could see a good deal of profit taking, we believe.
Volume Spike: BioHaven (SYM: BHVN)
Keep an eye on BioHaven (SYM: BHVN).
On Monday, volume spiked to just over three million, as compared to its daily average volume of 906,285. All after the company announced “positive topline results from pivotal Study BHV4157-206-RWE (NCT06529146) demonstrating the efficacy of troriluzole on the mean change from baseline in the f-SARA after 3 years of treatment. The study achieved the primary endpoint and showed statistically significant improvements on the f-SARA at years 1 and 2,” as noted in a company press release.
“SCA is a rare, progressively debilitating neurodegenerative disease that affects approximately 15,000 people in the United States and 24,000 in Europe and the United Kingdom. There are no FDA approved treatments for SCA,” added the company.
