{"id":17987,"date":"2023-06-04T08:42:47","date_gmt":"2023-06-04T12:42:47","guid":{"rendered":"https:\/\/ifintechworld.com\/uncategorized\/insider-trades-hedge-fund-moves-under-armour-founder-unloads-100m-in-stock\/"},"modified":"2023-06-04T08:42:48","modified_gmt":"2023-06-04T12:42:48","slug":"insider-trades-hedge-fund-moves-under-armour-founder-unloads-100m-in-stock","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=17987","title":{"rendered":"Insider trades & hedge fund moves: Under Armour founder unloads $100M in stock"},"content":{"rendered":"
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\u00a9 Reuters. <\/span>
\n<\/i>\n<\/div>\n

By Davit Kirakosyan<\/p>\n

Here is your Pro Recap of the biggest insider trades and hedge fund actions you may have missed this week: news out of Under Armour and BDT Capital, Occidental Petroleum and Berkshire Hathaway, and top brass buys at Grocery Outlet, Align Technology <\/span><\/span> , and CNX Resources.<\/p>\n

InvestingPro subscribers got this news first. Never miss another market-moving headline.<\/p>\n

Under Armour founder Kevin Plank sells $100 million of stock<\/strong><\/h2>\n

Under Armour <\/span><\/span> (NYSE:) announced that BDT Capital Partners acquired around 16 million class C shares of Under Armour stock from Kevin Plank, the Executive Chair and Brand Chief. The current value of these shares is approximately $100 million.<\/p>\n

Following the sale, Plank remains the largest shareholder of the company, holding approximately 51 million combined shares across the company’s three classes (A, B, and C). This represents around 12% of the company’s stock and grants him 65% of the voting control. Plank clarified that there are no intentions to sell any more of his shares.<\/p>\n

Shares climbed around 10% for the week.<\/p>\n

\"InvestingPro<\/p>\n

Warren Buffett’s Berkshire adds another $270M of Occidental Petroleum stock<\/strong><\/h2>\n

Berkshire Hathaway (NYSE:) disclosed it acquired another 4.66 million common shares of Occidental Petroleum (NYSE:), worth over $270M, at $58.3026-$58.8545.<\/p>\n

After the acquisition, Berkshire possesses 221,990,942 ordinary shares of Occidental Petroleum, in addition to 93,532 Series A Preferred Stock and warrants for an additional 83,858,848.81 ordinary shares.<\/p>\n

Occidental shares added just under 1% for the week.<\/p>\n

3 insider purchases<\/strong><\/h2>\n

Grocery Outlet (NASDAQ:)<\/strong> shares rose more than 3% on Friday after Director Erik Ragatz disclosed the purchase of 70,000 common shares, or about $2M worth, at $27.99-$29.<\/p>\n

Align Technology (NASDAQ:)<\/strong> shares gained more than 5% on Thursday after Director Kevin Dallas bought 7,000 common shares, or nearly $2M worth, at $285.2572. Dallas owns 12,246 total shares following the purchase.<\/p>\n

CNX Resources (NYSE:)<\/strong> Director Bernard Lanigan bought 137,835 common shares, or around $2.1M worth, at $15.2358.<\/p>\n

In fast-moving markets, every second counts – and InvestingPro subscribers are always one step ahead with lightning-quick updates.<\/p>\n

Start your free 7-day trial now.<\/p>\n

\"InvestingPro<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

\u00a9 Reuters. By Davit Kirakosyan Here is your Pro Recap of the biggest insider trades and hedge fund actions you may have missed this week: news out of Under Armour and BDT Capital, Occidental Petroleum and Berkshire Hathaway, and top brass buys at Grocery Outlet, Align Technology , and CNX Resources. InvestingPro subscribers got this […]<\/p>\n","protected":false},"author":1,"featured_media":17988,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"video","meta":{"footnotes":""},"categories":[1],"tags":[83],"class_list":["post-17987","post","type-post","status-publish","format-video","has-post-thumbnail","hentry","category-uncategorized","tag-featured","post_format-post-format-video"],"yoast_head":"\nInsider trades & hedge fund moves: Under Armour founder unloads $100M in stock | iFintechWorld<\/title>\n<meta name=\"description\" content=\"\u00a9 Reuters. 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