Buffett goes big on homebuilders: Insider trades & hedge funds weekly

Investing.com — Here is your Pro Recap of the biggest insider trades and institutional investor headlines you may have missed last week: news out of Starboard Value LP and Bloomin Brands, Berkshire Hathaway and DR Horton, Lennar , and NVR, and top brass purchases at Forward Air, TG Therapeutics, Amarin , Funko, and Sarepta Therapeutics.

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Starboard Value LP confirms 9.9% stake in Bloomin Brands

Hedge fund Starboard Value LP disclosed a 9.9% stake (8,623,000 shares) in Bloomin Brands (NASDAQ:), as reported in real time on InvestingPro. The firm did not hold shares at the end of the latest quarter ending June 30, 2023.

Earlier the same day, the Wall Street Journal reported that activist investor Starboard Value has strategically acquired a stake exceeding 5% in the restaurant chain operator.

As a result of these announcements, Bloomin Brands shares gained more than 8% on Friday.

Warren Buffett’s Berkshire Hathaway buys 3 homebuilders in Q2

Berkshire Hathaway’s (NYSE:) 13F filing with the SEC revealed the addition of new positions in three homebuilders during Q2.

Berkshire now owns 5,969,714 shares of DR Horton (NYSE:), 152,572 shares of Lennar (NYSE:), and 11,112 shares of NVR (NYSE:).

These new positions capture attention due to the ongoing challenges faced by homebuilders stemming from rising interest rates. The decision to acquire these stakes could potentially signify a bet on the anticipation of declining interest rates and a resurgence of momentum in the housing market.

CEOs snapping up shares

Forward Air (NASDAQ:) CEO Tom Schmitt purchased $1 million worth of the company’s shares.

TG Therapeutics (NASDAQ:) CEO and President, Michael Weiss, purchased 100,000 common shares, or worth over $1M, at $10.13. Weiss owns 12,073,021 shares directly following the latest purchase.

Amarin (NASDAQ:) President and CEO, Parick Holt, purchased 300,000 common shares, or worth over $300,000, at $1.025-$1.06 per share. The purchase encompasses his entire stake in the company. Holt was appointed CEO in July and at that point agreed to purchase $300,000 worth of Amarin shares in the open market using personal funds.

Huge director buys

Funko’s (NASDAQ:) 10% owner Kenneth Chan Hsiang-Tze, purchased 490,825 common shares, or worth around $2.6M, at $5.3429-$5.4126 per share. Hsiang-Tze owns a total of 6,052,676 common shares following the latest purchases.

Sarepta Therapeutics (NASDAQ:) director, Michael Andrew Chambers, purchased 23,686 common shares, or worth over $2.5M, at $108.05 per share. Chambers owns 237,017 shares indirectly and 6,431 directly following the latest purchase.

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