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Massive Media and Retail Buys Highlight Insider Buying as Trump Rally Slows: Fred’s, 21st Century Fox, Newcastle Investment, Wynn Resorts, Inovalon and More

With the market more than ready for the long three-day holiday weekend, volume really slowed near the end of last week, as traders and portfolio managers looked to consolidate some of the gains from the gigantic Trump rally that started right after the election. The pending holiday didn’t slow insiders from buying shares, and we continued to see some strong trading during the week.

We cover insider buying each week at 24/7 Wall St., and we like to remind readers that while insider buying is usually a very positive sign, it is not in of itself a reason to run out and buy a stock. Sometimes insiders and 10% owners have stock purchase plans set up at intervals to add to their holdings. That aside, it still remains an overall positive indicator.

Here are some of the companies that reported notable insider buying last week.

Fred’s Inc. (NASDAQ: FRED) soared last week on news that activist investors Alden Global Capital bought a huge position. The operator of retail discount stores and full service pharmacies purchased 5,533,005 shares in a trade that was valued at a massive $110 million. The company bought the shares at...