HGBL — Insider Trading Activity

Cluster buy signal. Multiple insiders independently writing personal checks for the same company’s stock is one of the stronger patterns in the Form 4 data — it usually reflects a shared view among people who see the numbers first that the shares are cheap. Historically, 3+ insider clusters have outperformed the broader market over the following 6–12 months. Who is buying. The most credible buyer in this window is a Director ($100K–$500K), growing their stake by 429%. Overall credibility score: 49/100 (Medium).

By the numbers. 4 insiders filed 4 open-market purchases at HGBL over the window, 390,000 shares in all at an average of $1.28 a share, most recently on September 25, 2026. On the other side, 2 insiders filed 3 sales covering 305,000 shares at an average of $1.33, the latest on October 1, 2026. That puts the average sale 4% above the average purchase — worth checking against where the stock trades today. Buying over the window ran 34× the dollar value of HGBL’s trailing 11-month baseline.

How we read these filings — which transaction codes count, how the cluster and credibility thresholds are set, and what the signals have and haven’t predicted — is written up in the insider trading methodology.