Stock Markets April 13, 2026 09:01 AM

Insider Moves: Major Buys by Activist Funds and Large Disposals by Major Holders Revealed

A Friday filing roundup shows concentrated purchases in small-cap names and sizable exits by several 10% holders across resource, fintech, biotech and industrial stocks

By Jordan Park RPAY WTTR VOR
Insider Moves: Major Buys by Activist Funds and Large Disposals by Major Holders Revealed
RPAY WTTR VOR

Insider filings disclosed Friday detail several high-value purchases and sales by executives, 10% owners and funds across a range of U.S. stocks. Notable activity includes a multi-million-dollar purchase in Hycroft Mining Holding Corp by Eric Sprott and related entities, repeated buy-ins by Forager Fund L.P. in Repay Holdings Corp, a sizeable investment into Better Home & Finance Holding Co by Framework Ventures IV L.P., and large dispositions by ten-percent owners at MACH Natural Resources LP, Select Water Solutions Inc, Roku, Vor Biopharma Inc and Redwire Corp. The filings highlight contrasting signals: concentrated buying in names trading near multi-month lows or deemed undervalued by InvestingPro, and heavy selling from large holders in names trading near highs or after strong rallies.

Key Points

  • Concentrated purchases reported: Eric Sprott-linked entities bought 200,000 Hycroft Class A shares for $7.73 million; Forager Fund completed multiple purchases in Repay totaling over $4.7 million across early April filings.
  • Large-scale dispositions by major holders: IKAV General Partner S.a r.l. and VEPU Inc. sold MACH common units for $71.19 million; Crestview Partners sold $36.7 million in Select Water Solutions shares, and AE Industrial Partners Fund disposed of 950,144 Redwire shares for $9.23 million.
  • Valuation contrasts highlighted: InvestingPro commentary tied to filings describes some names as undervalued (e.g., RPAY, VOR based on Fair Value estimates) and others as overvalued (e.g., Hycroft, WTTR), underlining divergent signals across mining, fintech, water/industrial, media and biotech sectors.

Insider transaction reports filed and disclosed on Friday reveal a mix of concentrated purchases by funds and sizable sell-offs by large stakeholders across multiple sectors. The filings cover purchases executed in early April 2026 and sales disclosed the same week, with precise price ranges, share counts and aggregated dollar amounts provided in each Form 4 filing.


Top purchases

Hycroft Mining Holding Corp - Eric Sprott, identified as a ten-percent owner through his control of 2176423 Ontario Ltd, and Sprott Mining Inc, an indirect owner, participated in a purchase of 200,000 shares of Class A common stock on April 9, 2026. The transactions occurred at prices between $38.28 and $39.06 per share, bringing the total value of the trade to $7.73 million. At the time of the report the common stock was trading at $37.50, and the filing notes a one-year return of 1,277% for the equity. InvestingPro analysis cited alongside the filing characterizes the stock as trading above its Fair Value and highlights elevated volatility, with 11 additional tips available for subscribers seeking more detail.

Repay Holdings Corp - Forager Fund L.P. and affiliated entities completed multiple purchases of RPAY shares between April 7 and April 9, 2026, amounting to $2,304,426. The breakdown of those purchases was: on April 7, 350,000 shares at a weighted average price of $2.42 (trades ranged $2.315 to $2.45); on April 8, 484,720 shares at a weighted average price of $2.57 (range $2.505 to $2.60); and on April 9, 78,991 shares at a weighted average price of $2.68 (range $2.645 to $2.76). The filing notes that RPAY shares had declined roughly 38% over the prior six months and were trading near a 52-week low of $2.30. At the time of disclosure the share price was $3.01 and the company’s market capitalization was reported at $270 million.

The filings also record earlier purchases by Forager Fund L.P. on April 1 and April 2, 2026 totaling $2,408,383. On April 1, Forager acquired 488,391 shares at an average price of $2.54; on April 2, it added 461,609 shares at an average price of $2.53. According to the InvestingPro commentary included in the disclosure, RPAY is assessed as undervalued with a Fair Value of $3.88 and is listed among Most Undervalued opportunities. Post transactions, the Fund directly holds 100 shares of Class A common stock with the remainder held directly by the Fund, bringing its reported total to 10,192,937 shares.

Better Home & Finance Holding Co - Framework Ventures IV L.P., reported as a ten-percent owner, acquired 54,384 shares of common stock on April 10, 2026 at $32.96 per share. The total consideration for the purchase was $1,792,496. After completing the acquisition, Framework Ventures IV L.P. directly holds 1,006,696 shares. The filing clarifies that beneficial ownership may extend to Framework Ventures IV GP LLC, Framework Ventures Management LLC, Vance Spencer and Michael Ernest Anderson, with those parties disclaiming beneficial ownership except to the extent of their pecuniary interest.


Top sales

MACH Natural Resources LP - Two ten-percent owners, IKAV General Partner S.a r.l. and VEPU Inc., reported the sale of common units on April 8, 2026. The units were sold at $12.81 each and the total proceeds from the disposition were reported as $71,193,867. The sale price was a slight premium to the then-current trading price of $12.65. InvestingPro data included in the filings shows the equity had fallen 12% over the prior week. VEPU Inc. reported selling 4,612,874 common units. The filings also indicate that 944,805 common units held by SIMLOG Inc. were sold.

Select Water Solutions Inc - Crestview Partners, described as a ten-percent owner, executed a large sale on April 8, 2026. The filing reports the sale of 2,430,240 shares of Class A common stock at $15.12 per share, and an additional 665,983 shares also at $15.12 per share. The aggregate value of shares sold was reported as $36.7 million. At the time of the disclosure the share price was reported at $15.16, near the company’s 52-week high of $16 and following a one-year gain of 94%. InvestingPro commentary included with the filing classifies the stock as trading above its Fair Value and places it on a Most Overvalued list. The transaction included the redemption of 2,430,240 Class A common stock through the redemption of Common LLC Units and the cancellation of 2,430,240 Class B common stock for no consideration.

Roku, Inc. - On April 8, Charles Collier, President of Roku Media, reported selling 205,821 shares of Class A common stock at $105.00 per share, producing proceeds of $21.6 million. The filing also shows that on the same day Collier acquired 205,821 Class A shares through the exercise of employee stock options. Those option exercises were executed at prices ranging from $49.59 to $103.54 and amounted to $10.7 million in total consideration. The disclosures note Roku shares had risen 73% over the past year and were trading at $102.45, with a market capitalization of $15.17 billion.

Vor Biopharma Inc - RA Capital Management, a ten-percent owner and director, sold a total of 619,333 shares of common stock across a series of transactions between April 8 and April 10, 2026. The aggregate value of the disposals was approximately $10.2 million. The bulk of the shares were sold on April 8, when 353,242 shares changed hands at a weighted average price of $16.32 in multiple trades priced from $15.755 to $16.68, and an additional 130,862 shares traded on the same day at a weighted average price of $16.91 with a price range of $16.755 to $16.975. On April 9, 135,201 shares were sold at a weighted average price of $16.59 (price range $15.94 to $16.385), and a final block of 828 shares sold on April 10 at a weighted average price of $15.75 (price range $15.75 to $15.76). The filings note VOR shares declined 14% over the previous week and were trading at $15.47. InvestingPro analysis cited with the filing indicates the stock appears undervalued with a Fair Value of $18.93 and references an additional 12 ProTips available on the platform.

Redwire Corp - AE Industrial Partners Fund reported selling 950,144 shares of common stock in multiple transactions on April 8 and April 9, 2026, according to the Form 4 filing. The total proceeds from those sales were $9,229,070. The filing provides the split of the sales: on April 8th, 407,776 shares were sold at prices ranging between $10.00 and $10.54, with a weighted average price of $10.17 and total proceeds of $4,147,956; on April 9th, 542,368 shares were sold at prices ranging from $9.10 to $9.75, with a weighted average price of $9.37 and proceeds of $5,081,114.


Context and takeaways

The filings present a snapshot of concentrated activity among large holders and insiders. Purchases by funds and ten-percent owners can be interpreted as a vote of confidence in exposures deemed undervalued or poised to recover, while the sales disclosed by several ten-percent holders and directors often reflect portfolio rebalancing or profit realization. The filings themselves provide hard transaction details - share counts, price ranges, dates and aggregated dollar values - but do not supply explicit rationale for each trade beyond the numerical disclosure.

InvestingPro commentary appended to several filings supplies valuation context: some equities disclosed as bought are identified as undervalued versus their Fair Value, while other names subject to heavy selling are flagged as trading above Fair Value. The platform’s supplemental notes also flag volatility and provide additional tips and ProTips for subscribers seeking deeper analysis.

How investors might use this information

  • Insider purchases are one data point among many and may signal conviction by large holders, particularly when paired with valuations that suggest the shares are trading below Fair Value.
  • Large sales by ten-percent owners or executives can represent profit-taking or structural changes in ownership; filings document the mechanics and scale but do not specify the motivation.
  • Valuation signals provided by third-party commentary noted in the filings - such as Fair Value comparisons and flags for over- or under-valuation - offer additional context that may be useful when combined with fundamental analysis and individual investment objectives.

All transaction details included above are taken from the Form 4 filings and related disclosures made public for the dates cited in early April 2026. The filings list precise share counts, price ranges, average prices and total dollar amounts for each reported transaction.


Note: The reports capture concrete trades and aggregated holdings as reported by the filers. They do not include explanatory statements on motivation, nor do they infer future performance. Investors should weigh these filings alongside other sources of information when constructing or adjusting investment positions.

Risks

  • High volatility in certain equities - InvestingPro flags elevated volatility for Hycroft, indicating potential rapid price swings that can affect investor exposure in the mining sector.
  • Concentrated insider selling may reflect profit-taking or portfolio changes - large disposals by ten-percent owners at MACH, Select Water Solutions, Redwire and others could compress liquidity or signal reduced insider ownership in natural resources, industrials and water sectors.
  • Mixed signals between transactions and valuation metrics - several stocks with heavy insider selling are also trading near 52-week highs or are flagged as overvalued, while some sold positions are in names InvestingPro labels undervalued, introducing uncertainty for biotech and fintech investors relying on insider flows alone.

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