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Daily Special Report

Published Aug 22

The Cluster Watch List

Where insiders are buying their own stock

4 companiesCovering Aug 19 – Aug 21Data through Aug 21

JEF is the strongest single-buyer case on the board, with $324.0m bought, but it is not a cluster: 1 insider made 1 filing. A cluster requires at least 2 different insiders and at least $250,000, so size and breadth of participation are separate tests here. The purchases were disclosed between Aug 19 and Aug 21, while the session figures are for the Aug 21 close versus the prior close.

Open-market dollars bought, with the session moveDOLLARS BOUGHT · SESSION MOVEAAT$2.6m+0.0%JEF$324.0m+1.1%ALK$1.0m+0.6%ELAN$936k+1.7%

Entry by entry — why each one is on the board

AATAmerican Assets Trust, Inc.
Insiders1
Bought$2.6m
Session+0.0%

AAT has $2.6m from 1 insider across 4 filings, so repeated buying by one person does not make a cluster. That is the third-largest amount bought of the 4 here, while its +0.0% session move is the smallest.

One insider buying repeatedly - 4 filings, not a cluster

JEFJefferies Financial Group Inc.
Insiders1
Bought$324.0m
Session+1.1%

At JEF, 1 insider and 1 filing account for $324.0m, with the latest buy disclosed Jul 15; that is still one buyer, not a cluster. The amount is the second-largest of the 4 here.

One insider, 1 filing, latest buy Jul 15

ALKAlaska Air Group, Inc.
Insiders1
Bought$1.0m
Session+0.6%

Against that, ALK shows $1.0m from 1 insider in 1 filing, with the latest buy disclosed Aug 20. It is the smallest amount bought of the 4 here, and one buyer does not meet the cluster test.

One insider, 1 filing, latest buy Aug 20

ELANElanco Animal Health Incorporated
Insiders1
Bought$936k
Session+1.7%

ELAN also comes from 1 insider and 1 filing, with $936k bought and the latest buy disclosed Aug 20. That is the biggest amount bought of the 4 here, but it remains a single-insider purchase rather than a cluster.

One insider, 1 filing, latest buy Aug 20

How this board was built

Open-market Form 4 purchases disclosed between Aug 19 and Aug 21. “Session” is the Aug 21 close vs the prior close. Insider buying is not a recommendation.