5 Stocks With Heavy Insider Buying In 2024

2. Gates Industrial Corp PLC (NYSE:GTES)

Number of Hedge Fund Investors: 38

Neil P. Simpkins, a board director at power transmission solutions company Gates Industrial Corp PLC (NYSE:GTES), bought 1,000,000 shares of Gates Industrial Corp PLC (NYSE:GTES) at $12.20 per share on February 16. The total dollar value of this transaction was $12.2 million. On the same day, Gates Industrial Corp PLC’s (NYSE:GTES) CEO Ivo Jurek also bought 20,492 shares of Gates Industrial Corp PLC (NYSE:GTES) at $12.20.

As of the end of the fourth quarter of 2023, 38 hedge funds out of the 933 funds tracked by Insider Monkey had stakes in Gates Industrial Corp PLC (NYSE:GTES). The biggest stakeholder of Gates Industrial Corp PLC (NYSE:GTES) during this period was Cliff Asness‘s AQR Capital Management which had a $105 million stake.