Apparently, renowned hedge fund manager Bill Ackman is not through yet building a stake in real estate firm Howard Hughes Holdings. But the biggest insider purchases of the week were in energy giants Exxon Mobile and Energy Transfer. Here is a look at these and more notable insider buying of the past week.

A well-known adage reminds us that corporate insiders and 10% owners really only buy shares of a company because they believe the stock price will rise and they want to profit from it. Thus, insider buying can be an encouraging signal for potential investors. This is all the more so during times of uncertainty in the markets, and even when markets are near all-time highs.

Remember that when the earnings-reporting season is in full swing, many insiders are prohibited from buying or selling shares. Below are some of the more notable insider purchases that were reported recently.

Energy Transfer

Dallas-based energy master limited partnership (MLP) Energy Transfer L.P. (NYSE: ET) saw its executive board chair, Warren Kelcy, add 2 million more shares to his stake. At $13.27 to $13.59 apiece, that cost him $26.86 million. His stake is now up to nearly 66.58 million shares. Note that another executive bought 7,500 shares this week as well.

The natural gas transportation and storage company posted mixed third-quarter results recently and announced the closure of its acquisition of Crestwood Equity Partners. Energy Transfer stock is down about 3% in the past week and was last seen trading around $13 per share, just below Kelcy’s purchase price. However, that price is up about 11% year to date. The consensus price target is $17.19.

Exxon Mobil

A director purchased more shares of Exxon Mobil Corp. (NYSE: XOM). The most recent batch was 250,000 shares, at $105.78 to $106.05 apiece. That totaled over $26.49 million and raised that director’s stake to more than 2.07 million shares. (These 20 American companies have the worst reputations.)

Exxon paid nearly $70 billion to acquire Denbury Resources and Pioneer Natural Resources, as big oil mergers return to the market. Exxon’s stock price has retreated more than 4% in the past week and was last seen trading below the purchase price range indicated above. That is down 6% or so year to date, but the consensus price target of $121.10 suggests more than 17% upside potential.

Howard Hughes

Real estate developer Howard Hughes Holdings Inc. (NYSE: HHH) saw Ackman’s Pershing Square Capital Management acquire almost 251,7oo shares for about $18.17 million, increasing the stake to over 17.99 million shares. The average share price of the latest purchase was about $72.22, and the transaction was in compliance with Rules 10b-18 and 10b5-1 of the Securities Exchange Act of 1934.

Ackman has served as board chair of Howard Hughes since November 2010. Pershing Square has purchased almost 1.91 million shares of the stock so far this year. The share price is slightly lower than a week ago but down about 16% in the past 90 days. The consensus price target is up at $93.50, and all five analysts covering the stock recommend buying shares. (America’s 50 richest billionaires and when they got that way.)

Sarepta Therapeutics

Sarepta Therapeutics Inc. (NASDAQ: SRPT) CEO Douglas Ingram and another director bought over 75,200 shares combined for $78.03 to $81.26 apiece. The total for those transactions was over $5.94 million. Ingram’s stake in the biopharmaceutical company was boosted to about 390,300 shares.

A third-quarter report with a narrower-than-expected loss and revenue that exceeded expectations was accompanied by news of disappointing Phase 3 results for its Duchenne muscular dystrophy treatment. Despite a rollercoaster ride in the past week, shares were last seen 1% or so higher, still within Ingram’s purchase price range. The stock is down more than 23% in the past 90 days, but up from a recent 52-week low of $55.25.

Remitly Global

Some 300,000 Remitly Global Inc. (NASDAQ: RELY) shares have been acquired by a company director for $18.91 to $20.00 apiece. That added up to almost $5.81 million and lifted the director’s stake in this digital financial services firm to just over 1.80 million shares.

The Seattle-based company posted mixed third-quarter results and boosted its guidance. Shares plunged afterward and were last seen trading below $21. That is just above the director’s purchase price. However, the stock is still up almost 81% year to date, and the $31.43 price target suggests there is more upside to come.

Staar Surgical

Broadwood Partners, a 10% owner, bought about 164,600 shares of Staar Surgical Co. (NYSE: CYH) for $33.79 to $34.50 apiece. That totaled more than $5.62 million. Note that Broadwood purchased over 144,500 shares of this implantable lens maker earlier this month, as well as almost 205,300 shares last month.

Staar Surgical recently posted better-than-expected third-quarter earnings, but an activist investor is urging the company to spin off its business in China. Shares dropped more than 16% in recent days to less than $33 apiece. That is below the purchase price range above. The stock is down 50% or so from six months ago. The $53.25 consensus price target suggests analysts think the shares have plenty of room to run.

Keurig Dr Pepper

After an announced management shakeup, a Keurig Dr Pepper Inc. (NASDAQ: KDP) officer acquired 100,000 shares. The purchase price ranged from $31.05 to $31.29 per share, and the transaction totaled more than $3.11 million. In addition, another executive recently made an insider buy of a little over 7,000 shares.

The chief operating officer, Timothy Cofer, made the 100,000-share buy above, and he is expected to become CEO in 2024. The company recently posted strong third-quarter results, and the stock is up more than 6% since then. It is also up almost 11% from last month’s 52-week low. Shares were last seen trading below Cofer’s purchase price. The consensus price target is $36.00.

And Others

Some insider buying was seen at Blackstone, Enterprise Products Partners, Lumen Technologies, Mastercard, United Airlines and Wells Fargo in the past week as well.

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