Market Commentary

Senator Richard Blumenthal Is Aggressively Selling Shares of This Company

Rahul Joshua12 Sept 2022 · 1 minute read

Richard Blumenthal, the senior United States senator from Connecticut, disclosed last week that he sold a large chunk of his shares in Radius Global Infrastructure (RADI: US), which provides business process outsourcing solutions to customers in a variety of industries.

Blumenthal reported that he made nearly 30 trades in August to sell shares of Radius Global on days where the closing price stayed between a range of $14.60 to $15.45. Radius shares closed at $14.17 on Friday, September 09.

Two trades made on August 09 are especially important as they fall under the $100,000 - $250,000 size bracket. Some of these trades were also worth between $50,000 - $100,000. All these trades were made in the name of his spouse.

Looking at the average volume of each trade, the total volume associated with Blumenthal’s selling of RADI shares in August stands at $1.37 million. 

Radius is the second-most traded stock by Blumenthal, after ELCM2 LLC. As far as the latter is concerned, the Senator made headlines in 2019 when he sold an amount ranging from $500,000 to $1 million of ELCM2 LLC stock. Blumenthal also made 10 trades using shares of First Republic Bank (FRC: US), which makes the full-service bank the third most traded stock by the Senator.

Keeping the above trades in mind, Blumenthal’s favorite sectors for trading include Communication Services, Financials, and Consumer Staples.

Elsewhere, the Senator also sold shares of Robinhood Markets (HOOD: US) on August 11 where the price closed at $10.51.

Blumenthal is one of the more active Senators as he sits on 5 different committees: Aging, Armed Services, Commerce, Science & Transportation, Judiciary, and Veteran’s Affairs.