Under Armour founder unloads $100M in stock By Investing.com


© Reuters.

By Davit Kirakosian

Here’s a Pro Recap of the biggest insider trades and hedge fund action you might have missed this week: News from Under Armour, BDT Capital, Occidental Petroleum and Berkshire Hathaway, Top Copper Buys at the Grocery Outlet, alignment technique and CNX Resources.

InvestingPro subscribers got this news first. Don’t miss another market moving title.

Armor founder Kevin Plank has sold $100 million in stock

under shield (NYSE::) BDT Capital Partners has acquired approximately 16 million Class C shares of Under Armor stock from Kevin Plank, CEO and Head of Brand. The current value of these shares is about $100 million.

After the sale, Plank remains the company’s largest shareholder, owning approximately 51 million common shares across the company’s three classes (A, B, and C). This represents about 12% of the company’s shares and gives him 65% of voting control. Blanc made it clear that there is no intention to sell any more of his shares.

Shares are up about 10% for the week.

Warren Buffett’s Berkshire Adds Another $270 Million in Occidental Petroleum Stock

Berkshire Hathaway (NYSE:) revealed that it has acquired another 4.66 million common shares in Occidental Petroleum (NYSE: ), valued at more than $270 million, at a price of $58.3026 – $58.8545.

Following the acquisition, Berkshire owns 221,990,942 common shares of Occidental Petroleum, plus 93,532 Class A preferred stock and warrants the acquisition of an additional 83,858,848.81 common shares.

Occidental shares added just under 1% for the week.

3 purchases from within

Grocery Outlet (NASDAQ:) Shares rose more than 3% on Friday after director Eric Ragatz revealed that he had bought 70,000 common shares, or the equivalent of $2 million, at a price of $27.99-$29.

Align Technology (NASDAQ:) Shares gained more than 5% Thursday after director Kevin Dallas bought 7,000 common shares, or roughly $2 million, at a price of $285.2572. Dallas owns 12,246 total shares after the purchase.

CNX Resources (NYSE:) Director Bernard Lanigan purchased 137,835 common shares, or the equivalent of $2.1 million, at $15.2358.

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