The Past Week's Notable Insider Buys: Atlanta Braves, Warby Parker, Xerox And More

• Insider buying can be an encouraging signal for potential investors, especially when markets are uncertain or near highs.


• Recent earnings reports have resulted in to some notable insider buying .


• Ted Weschler and Carl Icahn were among those making notable purchases.

Conventional wisdom says that insiders and 10% owners really only buy shares of a company for one reason: they believe the stock price will rise and they want to profit from it. So insider buying can be an encouraging signal for potential investors, particularly when there is uncertainty in the markets or the markets are near all-time highs.

Note that with the earnings-reporting season still underway, the windows for some insiders to buy or sell shares are closed. Here are a few of the most noteworthy insider purchases that were reported in the past week.

Ted Weschler of Berkshire Hathaway, a 10% owner of Liberty Braves Group BATRA, acquired more than 5.37 million shares of this parent of the World-Series-winning Atlanta Braves. At about $50.02 per share, that cost that owner about $267.45 million and raised the stake to more than 20.20 million shares. Note that Liberty Braves Group is a subsidiary of Liberty Media.

Warby Parker Inc WRBY saw a beneficial owner indirectly pick up some shares after its latest earnings report. The more than 884,800 shares purchased added up to around $37.88 million, at a per-share prices ranging from $53.68 to $54.50. The owner's stake in this prescription eyeglasses maker was up to over 12.96 million shares. The stock was last seen at $57.35, which is 5% or so above the top of the purchase price range.

After the recent Xerox Holdings Corp XRX earnings report, Carl Icahn, a 10% owner, indirectly added more than 972,200 shares, while two directors also bought a combined 9,884 shares. At $17.75 to $18.72 apiece, the cost for all those shares totaled over $17.56 million. Icahh's stake was up to over 32 million shares. The stock ended Friday trading at $19.53 a share, well above the purchase prices.

The purchase of almost 1.30 million Loandepot Inc LDI shares by Chief Executive Officer Anthony Hsieh, via trust, at prices averaging from $6.37 to $6.93 apiece totaled more than $8.72 million. These transactions also followed an earnings report. Note that the stock is down more than 72% since the initial public offering in February of this year, closing at $6.41 per share on Friday.

See also: 4 Stocks Insiders Are Selling

Some other sizable insider purchases reported last week:

• Clearwater Analytics Holdings Inc CWAN beneficial owner buys over 303,800 shares for more than $6.8 million.


• RenaissanceRe Holdings Ltd. RNR five officers buy over 30,200 shares for more than $4.3 million.


• Archer Aviation Inc ACHR beneficial owner buys more than 482,300 shares for over $3.1 million.


• Intel Corporation INTC four directors buy almost 40,800 shares for around $2.0 million.


• Fiserv Inc FISV director buys 15,700 shares for over $1.5 million.

At the time of this writing, the author had no position in the mentioned equities.

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