The Vickers Top Buyers & Sellers is a daily report that identifies the five companies the largest insider purchase transactions based on the dollar value of the transactions as well as the five companies the largest insider sales transactions based on the dollar value of the transactions.

Crown Castle is a domestic communications infrastructure REIT. After completing a strategic review in 2024, the company has reached an agreement to sell its small cell and fiber business and keep its operations that own and lease about 40,000 large towers. The sale is expected to close in 2026 and CCI expects to recognize losses between $700-$900 million for 2025 as a result of the sale. Revenues for the two segments in 2024 were about $2.1 billion. At year-end, CCI had operations in 49 states with both single-tenant and colocation towers, including 105,000 small cells and 90,000 route miles of fiber. The small cell and fiber business accounted for about one-third of total revenues. Within each segment, annual site rental revenues accounted for about 95% of revenues and service fees for the remainder. A snapshot of the ongoing tower business is as follows. The company focuses on long-term lease agreements. The 2024 weighted-average remaining lease term is about six years, and the average number of tenants per tower is 2.4. About 40% of tower locations are on land owned by CCI. At year-end 2024, about 56% of towers were in the top 50 domestic trading areas. The majority of CCI's tower tenants are large cell phone carriers, with T-Mobile accounting for 40% of current annualized cash rents. Activist investment firm, Elliot Investment Management, has called for a change in the board and top management, resulting in a strategic review of fiber operations and the appointment of several new independent board members. The company is based in Houston and has about 5,000 employees. CCI has a market cap of $46 billion and is part of the S&P 500.

Another week and another (fourth-consecutive) set of positive insider-sentiment data from Vickers Stock Research. Let's jump right in, looking at exchange data. Vickers' NYSE One-Week Sell/Buy Ratio is currently 1.44 on a scale where any result below 2.00 is bullish. This ratio has been bullish for four weeks in a row. The ongoing strength in the one-week data has now also pushed Vickers' longer-term (eight-week) sentiment reading into bullish territory. Indeed, the NYSE Eight-Week Sell/Buy Ratio is now bullish at 1.83. Turning to the Nasdaq, the One-Week Sell/Buy Ratio is essentially flat with last week at 2.67, which is just into the neutral zone (which runs from 2.00 to 6.00). Still, the short-term Nasdaq reading has been generally improving for multiple weeks and has led the Nasdaq Eight-Week Sell/Buy Ratio (currently 2.98) on a trend of improvement that is now 10 weeks in duration. Putting this all together, Vickers Total (all exchanges) One-Week Sell/Buy Ratio is now 2.05 (oh-so-close to bullish) and the Total Eight-Week Sell/Buy Ratio is now 2.34 (neutral but having improved for 10 consecutive weeks). When this run of bullish data began back on April 7, the S&P 500 was at 5062. On Friday, it closed at 5686, almost 12% higher. On a sector basis, insider buying narrowly exceeded selling in Consumer Discretionary last week, with shares valued at $6.44 million bought versus $6.42 million sold. Buying also outpaced selling in Energy -- although volume was light, with less than $1 million shares bought during the period. Selling was the greatest in the Financial sector over the last week, with shares valued at $73 million sold versus less than $4 million bought. Selling was also notable in Healthcare, Industrials, Real Estate, and Information Technology. This week, analysts at Vickers highlighted insider transactions of interest at Molina Healthcare Inc. (NYSE: MOH) and BlackRock Inc. (NYSE: BLK).

Crown Castle owns and leases roughly 40,000 cell towers in the United States. It also owns more than 90,000 route miles of fiber. It leases space on its towers to wireless service providers, which install equipment on the towers to support their wireless networks. Crown Castle’s towers and fiber are predominantly in the largest US cities. The company has a very concentrated customer base, with about 75% of its revenue from the Big Three US mobile carriers. Crown Castle operates as a real estate investment trust. It has announced plans to divest its fiber business, which should be finalized in 2026. After that, Crown will be a stand-alone tower operator.