The Hagedorn Partnership's $1.94M sale is the largest insider transaction in this cluster, but at 0.05% of market cap it is not a material signal. The CEO/CFO transactions were non-cash tax withholdings, not bearish. Monitor for any additional open-market selling by the Hagedorn Partnership in the next 30 days; a pattern of sustained selling would warrant closer attention. For now, the cluster is consistent with routine post-earnings portfolio rebalancing.
Price Chart
Executive Summary
Two SMG insiders sold a total of $2.02M in shares over the past week, with the bulk ($1.94M) coming from the Hagedorn Partnership (a director and 10% owner) at ~$67.42. This selling cluster follows the company's Q3 earnings beat and raised guidance 8 days ago, where the stock surged. The insider sales are modest relative to SMG's $3.8B market cap (~0.05%), and the CEO/CFO transactions were non-cash tax withholding events, not open-market sales. The cluster is notable for the Hagedorn sale size but remains within routine proportionality thresholds for a large-cap company post-earnings.
Key Financial Metrics
Key Facts
- Hagedorn Partnership (director/10% owner) sold 28,793 shares for $1.94M on 2026-08-03 at $67.42
- Director Stephen L. Johnson sold 1,200 shares for $80K on 2026-07-30 at $68.32
- CEO, EVP/CSO, and CFO had only non-cash tax withholding transactions (OTHER) on 2026-07-31, totaling ~$5.4K
- Total open-market sales of $2.02M represent ~0.05% of SMG's $3.8B market cap
- Cluster follows Q3 FY2026 earnings beat (EPS $2.82 vs $2.52 consensus) and raised guidance on 2026-07-29
Financial Impact
Total open-market insider sales of $2.02M, or ~0.05% of market cap — routine and non-material
Risk Factors
- Hagedorn Partnership is a 10% owner — continued selling could signal reduced conviction
- Insider sales post-earnings beat may indicate belief that the stock's recent run is near fair value
- Historical calibration shows SMG insider cluster reports have a 44% win rate at T+20, suggesting limited predictive power
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-SMG-1786005208110 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Sep 15, 2026 17d ago | 8-K | $56.09 $52.36 | ▼ −6.65% | ▼ −7.47% | $49.02 (−12.60%) |
Sep 11, 2026 21d ago | 8-K | $55.91 $51.42 | ▼ −8.03% | ▼ −8.14% | $49.02 (−12.32%) |
Aug 27, 2026 5w ago | 8-K | $60.59 $59.29 | ▼ −2.15% | ▼ −2.41% | $49.02 (−19.10%) |
Aug 11, 2026 7w ago | Insider Cluster | $62.03 $59.55 | ▼ −4.00% | ▼ −3.59% | $49.02 (−20.97%) |
Aug 5, 2026 8w ago | Insider Cluster | $66.13 $62.17 | ▼ −5.99% | ▼ −6.34% | $49.02 (−25.87%) |
Jul 29, 2026 9w ago | 8-K | $70.33 $66.13 | ▼ −5.97% | ▼ −11.50% | $49.02 (−30.30%) |
Jun 4, 2026 17w ago | Court Ruling | $56.83 $61.88 | ▲ +8.89% | ▲ +11.44% | $49.02 (−13.74%) |
Apr 29, 2026 22w ago | Press Release | $61.73 $62.15 | ▲ +0.69% | ▼ −2.42% | $49.02 (−20.58%) |
Apr 22, 2026 23w ago | Press Release | $64.33 $62.42 | ▼ −2.97% | ▼ −4.45% | $49.02 (−23.80%) |
Apr 20, 2026 23w ago | Press Release | $64.37 $65.38 | ▲ +1.57% | ▲ +0.49% | $49.02 (−23.85%) |
US Market Status
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