Insiders Buying Sphere Entertainment And 2 Other Stocks – Agree Realty (NYSE:ADC), Sphere Entertainment (NYSE:SPHR)

By: Alex Freidmen







Insider Trading Trends: A Look Behind the Curtain

Insider Trading in Focus

U.S. stocks wrapped up the week on a cheery note, yet a distinctive scent of insider trading wafts over Wall Street.

Western Midstream Partners

  • The Move: Western Midstream Partners, LP President and CEO Michael Ure indulged in a shopping spree, nabbing 5,000 shares at an average price of $33.65, totaling approximately $168,250.
  • The Buzz: A recent downgrade by Citigroup analyst Spiro Dounis to a neutral tone unveiled a change in the forecast for Western Midstream.
  • Company Profile: Western Midstream Partners LP, an entity based in the U.S., specializes in owning, operating, acquiring, and developing midstream energy assets.

Sphere Entertainment

  • The Trade: Director Kristin A Dolan of Sphere Entertainment Co. dove into the stock market pond, snatching 76,139 shares at an average cost of $40.73, ringing up a hefty $3.1 million.
  • What’s the Buzz: On February 5, Sphere Entertainment boomed with a year-on-year surge of 97% in revenue, clocking at $314.2 million, defying market predictions.
  • Business Scope: Sphere Entertainment Co. is a vibrant live entertainment and media corporation renowned for creating, producing, and touring captivating shows and events.

Agree Realty

  • The Move: Executive Chairman Richard Agree of Agree Realty Corporation bulked up his portfolio, swooping in for 16,000 shares priced at $55.50 each, costing a cool $888,000.
  • What’s the Scoop: On February 27, analyst Ki Bin Kim of Truist Securities painted a rosy picture for Agree Realty, maintaining a ‘Buy’ rating while tweaking the price target slightly.
  • Company Overview: Agree Realty Corporation elegantly operates as a fully integrated real estate investment trust, specializing in the ownership, acquisition, development, and management of top-tier retail properties.
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Insider trading can often be a sign of the confidence insiders have in the future of a company or simply a lucrative opportunity they couldn’t resist. While not a foolproof investment strategy, it does provide an intriguing peek behind the curtain of these companies.