In this article, we discuss 5 stocks that US senators are selling. If you want to see more stocks that were recently sold by US senators, click 10 Stocks US Senators Are Selling.
5. Phillips Edison & Company, Inc. (NASDAQ:PECO)
Number of Hedge Fund Holders: 7
Phillips Edison & Company, Inc. (NASDAQ:PECO) is an Ohio-based internally managed REIT that invests in grocery shopping centers. The company leases out properties across Salt Lake City, Utah, New York City, Atlanta, and Georgia.
Patrick Toomey is a junior member of the United States senate from Pennsylvania. He disclosed a sale of Phillips Edison & Company, Inc. (NASDAQ:PECO) stock worth between $15,000 and $50,000. The transaction took place on January 20, and was reported 43 days later on March 5.
On March 9, Morgan Stanley analyst Richard Hill downgraded Phillips Edison & Company, Inc. (NASDAQ:PECO) to Equal Weight from Overweight with an unchanged price target of $37. The analyst remains bullish on the company’s long-term outlook but will await a better entry point and more macro clarity in the short-term.
Among the hedge funds tracked by Insider Monkey, 7 funds were bullish on Phillips Edison & Company, Inc. (NASDAQ:PECO) at the end of December 2021, compared to 15 funds in the previous quarter. Millennium Management held the largest stake in Phillips Edison & Company, Inc. (NASDAQ:PECO), with 1.25 million shares worth $41.6 million.
4. Construction Partners, Inc. (NASDAQ:ROAD)
Number of Hedge Fund Holders: 9
Construction Partners, Inc. (NASDAQ:ROAD) is an Alabama-based company that engages in the construction and maintenance of roads across Alabama, Florida, Georgia, North Carolina, and South Carolina. Other infrastructure projects include bridges, airports, commercial establishments, and residential communities.
Mark Warner, a senior United States senator from Virginia, sold shares of Construction Partners, Inc. (NASDAQ:ROAD) worth between $100,000 and $250,000 on January 31. The transaction was disclosed on February 19.
Baird analyst Andrew Wittmann on January 25 lowered the price target on Construction Partners, Inc. (NASDAQ:ROAD) to $31 from $38 and maintained an Outperform rating on the shares. The analyst said his investigation suggests a strong backdrop, hence he kept his positive rating with more conviction after the recent weakness in the shares.
According to Insider Monkey’s Q4 data, 9 hedge funds were bullish on Construction Partners, Inc. (NASDAQ:ROAD), compared to 7 funds in the last quarter. Chuck Royce’s Royce & Associates is the biggest stakeholder of the company, with 700,971 shares worth $20.6 million.
Here is what Wasatch Micro Cap Value Fund has to say about Construction Partners, Inc. (NASDAQ:ROAD) in its Q1 2021 investor letter:
“The second company is Construction Partners, Inc. (ROAD), which does work on public and private infrastructure projects including highways, roads, bridges, airports, and commercial and residential sites. Construction Partners avoid Department of Transportation projects, which tend to have low margins. On a comparative basis, we believe Sterling is less richly valued than Construction Partners, but we continue to like both companies as attractive investments.”
3. HSBC Holdings plc (NYSE:HSBC)
Number of Hedge Fund Holders: 10
HSBC Holdings plc (NYSE:HSBC) is a London-based banking and financial services corporation that operates via Wealth and Personal Banking, Commercial Banking, and Global Banking and Markets segments. JPMorgan analyst Katherine Lei lowered the price target on the shares to 510 GBp from 570 GBp and reiterated a Neutral rating on HSBC Holdings plc (NYSE:HSBC).
Thomas Carper, a senior United States senator from Delaware, disposed of HSBC Holdings plc (NYSE:HSBC) shares ranging between $15,000 and $50,000 on February 25, disclosing the sale 6 days later.
On March 9, HSBC Holdings plc (NYSE:HSBC) declared a $0.895 per average dilute share semi-annual dividend. The dividend is payable on April 28, for shareholders of record on March 11. The stock delivers a dividend yield 3.20% as of April 7.
Among the hedge funds tracked by Insider Monkey, 10 funds were bullish on HSBC Holdings plc (NYSE:HSBC) at the end of December 2021, with collective stakes exceeding $150 million. Renaissance Technologies is the biggest stakeholder of the company, with almost 3 million shares worth $89.3 million.
2. Amyris, Inc. (NASDAQ:AMRS)
Number of Hedge Fund Holders: 15
Amyris, Inc. (NASDAQ:AMRS) is a California-based synthetic biotechnology company that caters to the clean health and beauty, flavors, and fragrance markets in Europe, North America, Asia, and South America. The company’s 2022 outlook is extremely bullish, and its newly issued financial guidance calls for a 150% increase in consumer revenue year-over-year.
Dianne Feinstein is a senior member of the United States senate from California. On January 10, she sold shares of Amyris, Inc. (NASDAQ:AMRS) valued at between $50,000 and $100,000. The transaction was reported 36 days later on February 19.
On March 2, Cowen analyst Steven Mah initiated coverage of Amyris, Inc. (NASDAQ:AMRS) with an unchanged Outperform rating. He expects the high-single digit trillion dollar synthetic biology market to grow to mid-double digit trillions by 2025.
According to Insider Monkey’s fourth quarter database, 15 hedge funds were bullish on Amyris, Inc. (NASDAQ:AMRS), with combined stakes of $169.2 million, compared to 17 funds in the earlier quarter, holding stakes in Amyris, Inc. (NASDAQ:AMRS) worth $403.4 million. Albert Cha and Frank Kung’s Vivo Capital is the biggest stakeholder of the company, with 11.6 million shares valued at approximately $63 million.
1. Maxar Technologies Inc. (NYSE:MAXR)
Number of Hedge Fund Holders: 16
Maxar Technologies Inc. (NYSE:MAXR) was founded in 1957 and is headquartered in Westminster, Colorado. The company provides earth intelligence and space infrastructure solutions in the United States, Asia, South America, Europe, the Middle East, Australia, and Canada. US senator Thomas Carper sold Maxar Technologies Inc. (NYSE:MAXR) shares worth between $1,000 and $15,000 on March 7, disclosing the transaction 29 days later on April 6.
On February 23, BMO Capital analyst Thanos Moschopoulos reiterated a Market Perform rating on Maxar Technologies Inc. (NYSE:MAXR) and slashed his price target on the shares to C$33.
In 2021, Maxar Technologies Inc. (NYSE:MAXR)’s full-year revenue amounted to $1.77 billion, a slight improvement from the prior-year revenue of $1.72 billion. Net income in 2021 declined to $46 million from $303 million in the previous year.
According to Insider Monkey’s Q4 database, 16 hedge funds were bullish on Maxar Technologies Inc. (NYSE:MAXR), compared to 13 funds in the last quarter. Jeffrey Jacobowitz’s Simcoe Capital Management held the largest stake in the company, with 2.5 million shares worth approximately $75 million.
You can also take a look at 10 Best Biotech Stocks Under $5 and 10 Best Dividend Stocks for Roth IRA.
