Director Steven I. Sarowitz purchased $1,355,593 of Angel Studios Class A Common Stock on August 12 and 13. Share prices for these transactions ranged from $3.7063 to $4.1173. Sarowitz now directly holds 683,303 shares in the company.
CEO Neal Harmon also acquired 29,035 shares on August 13. This purchase totaled approximately $125,007 at a weighted average price of $4.3053 per share.
These transactions followed the company reporting better-than-expected second-quarter financial results. The stock price recently declined despite the positive earnings, suggesting investor concerns over growth. These high-level purchases indicate insider confidence in the company’s valuation despite recent market sentiment.