The CEO's open-market sale by the CEO without a plan is a potential bearish signal, but the director's open-market buy of equal size and price creates a balanced mixed cluster. Monitor for any subsequent 8-K or earnings filing for guidance changes or material developments.
Price Chart
Executive Summary
Heritage Global Inc. (HGBL) CEO Ross Dove sold $399K worth of shares while Director William Burnham bought an equal $399K worth at the same $1.33 price, creating a mixed insider cluster. The CEO sale is an open-market sell (code S) without a 10b5-1 plan indication, while the director purchase is an open-market buy (code P). The total $798K in trading represents approximately 0.24% of the company's $326M market cap, falling in the modest range. The cluster is mixed in direction and balanced in dollar value, with the CEO's sale offsetting the director's buy, resulting in no clear directional signal.
Key Financial Metrics
Key Facts
- CEO Ross Dove sold 300,000 shares at $1.33 for $399K on 2026-09-25
- Director William Burnham bought 300,000 shares at $1.33 for $399K on 2026-09-25
- Total cluster value of $798K represents ~0.24% of HGBL's $326M market cap
- Both trades occurred on the same date and price, suggesting a coordinated or coincidental matching
- No 10b5-1 plan indication on the CEO sale; no vesting/tax-withholding codes (A/F/M/C/F) on either trade
Financial Impact
Cluster value of $798K total trading, 0.24% of market cap
Risk Factors
- CEO sale without a 10b5-1 plan could indicate informed selling ahead of negative news
- No clear catalyst or filing context provided—no cross-filing context provided
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-HGBL-1790717894687 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 2, 2026 25d ago | Insider Cluster | $1.30 $1.26 | ▼ −3.08% | ▼ −3.50% | $1.28 (−1.54%) |
Sep 29, 2026 27d ago | SC 13D/A | $1.30 $1.29 | ▲ +0.77% | ▲ +2.68% | $1.28 (+1.54%) |
Sep 29, 2026 27d ago | Insider Cluster | $1.30 $1.29 | ▼ −0.77% | ▼ −2.68% | $1.28 (−1.54%) |
Aug 3, 2026 12w ago | 8-K | $1.06 $1.06 | · 0.00% | ▼ −2.03% | $1.28 (+20.75%) |
Jul 31, 2026 12w ago | 8-K | $1.06 $1.06 | · 0.00% | ▲ +2.03% | $1.28 (−20.75%) |
Apr 21, 2026 26w ago | DEFA14A | $1.40 $1.42 | ▲ +1.43% | ▲ +1.37% | $1.28 (−8.57%) |
US Market Status
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