Worth a closer look
- Open-market purchase with their own money (Form 4 code P), not a grant or option exercise.
- Bought by the CEO, one of the two people with the fullest view of the company.
- 3 different insiders bought in the last 90 days.
Reasons for caution
- Similar past buys beat the S&P 500 only 46% of the time (96 cases); the typical one trailed it by 2.0%.
What happened after this filing
Insider Twins: past buys with the same traits
3+ insiders buying · incl. CEO or CFO · $1M+ · stock up over 3 months
SMWB Jun 2, 2026 +110.9% vs S&PLQDA Dec 18, 2023 +104.5% vs S&PRZLT Jun 26, 2025 +96.1% vs S&PUPXI Apr 25, 2025 -74.2% vs S&PPIII May 30, 2023 -72.4% vs S&PINAB Aug 30, 2022 -45.5% vs S&PWhat we couldn't check
- Why they traded. Filings don't say, and we don't guess.
- Company news after the filing, and any private terms.
Michael T. Fries (CEO) bought $1.0M of LBTYA at about $9.37 on Nov 4, 2026, reported to the SEC on Nov 5, 2026. Buys like this beat the S&P 500 46% of the time since 2020, against 46% for all insider buys. We found 3 points that make it worth a closer look and 1 reason for caution. History, not a prediction.
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Written by fixed rules from SEC filings and our measured history, not by an AI model. Public data only. History, not a prediction, and not investment advice.