Plains Gp Holdings Lp (+1, PAGP US, October 2nd)
Willie Chiang (CEO and Chair since 2020, joined 2015) purchased $1 million worth of stock on September 28th at $16.24, increasing his holdings by +20% to 378,704 shares. We ranked this stock +N in May based on a similar size purchase from him at $13.25, that signal expired at the end of August after a gain of +20%. It is interesting to see him make another large purchase and at a higher price point.
His track record prior to 2023 is mixed, partly hurt by the early 2020 COVID-related-decline, but he did average down in March 2020 at $5.50.
We are ranking the stock +1.
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