Insiders Buy as Sellers Cash Out

The past two weeks of filings reveal a split market. Buyers are concentrated in insurance and pharma. Sellers are cashing out of financials and refining names.

Goosehead Insurance gets the most attention on the buy side. Durable Capital Partners filed buys worth over $8.7M combined in GSHD, spread across multiple trades between July 24 and 27. The investment firm holds a 10% stake and a board seat. That level of repeated buying signals strong conviction in the insurer's direction.

ACI also drew a fresh purchase. Albertsons EVP Thomas Moriarty filed a $1.96M buy on July 28. With the grocery chain still navigating a post-merger reset, an executive putting nearly $2M of personal capital to work is worth watching.

On the sell side, SAFT stands out. SRB Corp, a 10% owner of Safety Insurance, filed sales totalling over $132M across three separate transactions last week. That is a major exit by a major holder.

CFG CEO Bruce Van Saun filed a $9.3M sale on July 28. Citizens Financial's chief executive sold shares just days after reporting. TTAN also saw Bessemer Venture Partners file over $28M in sales across four trades, consistent with VC distribution activity post-IPO lock-up.

Carlos Slim filed sales in PBF totalling over $14M, trimming his stake in the US refiner as energy margins compress.