Weekly Insider Trading Report

Period: April 5, 2026 - April 12, 2026

Executive Summary

• Total Transactions: During the week, there were 230 purchases and 870 sales, resulting in a buy/sell ratio of 0.26, indicating a significant level of selling activity relative to buying.
• Total Values: The total value of insider purchases reached approximately $85.06 million, while total sales amounted to about $1.93 billion, highlighting a strong inclination towards liquidation.
• Top Buys: Notable insiders, including Mark T. Bertolini and George Gregory, executed significant purchases with total values of $11.92 million and $7.19 million, respectively.
• Top Sells: Blackstone EMA III L.L.C. dominated the selling landscape with two transactions totaling $831.28 million in the stock LGN, signaling potential weaknesses in the company’s outlook.
• Market Sentiment: The current sentiment reflects caution among insiders, with a marked imbalance favoring selling over buying, suggesting potential concerns about future performance.

Top Conviction Buys

1. OSCR (Oscar Health, Inc.)

   • Insider: Mark T. Bertolini, Director
   • Transaction Type: Buy
   • Total Value: $11,920,000
   • Shares: 1,000,000
   • Price: $11.92
   • Trade Date: April 6, 2026
   • Note: A substantial non-10b5-1 purchase indicating strong personal conviction in the company's future performance.

2. MESO (Mesoblast Ltd.)

   • Insider: George Gregory, Director
   • Transaction Type: Buy
   • Total Value: $7,195,000
   • Shares: 500,000
   • Price: $14.39
   • Trade Date: April 9, 2026
   • Note: Significant insider purchase suggests confidence in upcoming corporate developments.

3. LW (Lifelock, Inc.) (Multiple Transactions)

   • Insider: JANA Partners Management, LP, Director
   • Transaction Type: Buy
   • Total Value: $5,561,040 (per transaction)
   • Shares: 136,000 (per transaction)
   • Price: $40.89
   • Trade Date: April 7, 2026
   • Note: Repeated purchases indicate a strong bullish sentiment among insiders.

Risk Radar

1. LGN (Ligonier Group, Inc.)

   • Insider: Blackstone EMA III L.L.C., Other
   • Transaction Type: Sell
   • Total Value: $514,549,746 (first transaction) and $316,732,302 (second transaction)
   • Shares: 9,528,699 and 5,865,413
   • Price: $54.00
   • Trade Date: April 9, 2026
   • Note: Massive liquidation by insiders raises red flags regarding the company’s future performance and may indicate a lack of confidence.

2. MNR (Monmouth Real Estate Investment Corporation)

   • Insider: IKAV General Partner S.a r.l., Other
   • Transaction Type: Sell
   • Total Value: $59,090,915.94
   • Shares: 4,612,874
   • Price: $12.81
   • Trade Date: April 8, 2026
   • Note: Significant sell-off may reflect underlying challenges within the company or sector.

3. ESLT (Elbit Systems Ltd.)

   • Insider: Bezhalel Machlis, Officer
   • Transaction Type: Sell
   • Total Value: $22,641,123.60 (multiple transactions)
   • Shares: 25,514
   • Price: $887.40
   • Trade Date: April 9, 2026
   • Note: Repeated sales by an officer could indicate strategic repositioning or concerns about the stock's performance.

Market Sentiment Analysis

The prevailing market sentiment during this period is characterized by a significant tilt towards selling, with a buy/sell ratio of only 0.26. This imbalance signals a cautious outlook among insiders, suggesting they may foresee challenges or adverse conditions impacting their companies. The high volume of sales, particularly from major stakeholders, could reflect broader market concerns or sector-specific issues that may affect stock performance in the short to medium term.

Investment Opportunities

• OSCR and MESO: The notable insider buying activity in these stocks might present attractive entry points for investors who align with the bullish perspectives of their respective insiders.
• LW: Given the substantial purchases from JANA Partners, this stock may represent a compelling opportunity, particularly for long-term growth investors.
• SG (Goldman Sachs Group Inc.): With a recent insider purchase totaling $3,220,540, this stock may merit consideration for investors looking at financial sector opportunities.

In conclusion, while the week presented some significant buying opportunities, the overall sentiment leans negatively due to extensive insider selling, warranting caution for potential investors.