Alpha Metallurgical Resources, Inc. (NYSE: AMR) is now the site of one of the more striking insider buying patterns we’ve tracked this year. According to a Form 4 filed with the SEC, director Kenneth S. Courtis purchased 2,914 shares of AMR stock on August 25, 2026, at a price of $216.22 per share, for a total outlay of $630,065.08. Following the purchase, Courtis holds 1,018,308 shares directly.
This single transaction, however, is only one piece of a much larger story. Between August 20 and August 25, 2026, AMR insiders executed 11 separate open-market purchases, collectively spending $7,142,847 on company stock. That kind of concentrated, multi-insider buying activity over a short window is what we classify as a cluster buy — a signal that tends to draw more attention than any individual transaction because it suggests that several people with direct knowledge of the company’s operations independently decided the same week was a good time to put their own money into the stock.
Who Else Is Buying
Courtis is not a newcomer to this buying wave. He also participated in the early stages of the spree, a purchase we covered in AMR Director Kenneth Courtis Joins $2.9M Insider Buying Spree. Other AMR directors have joined in as well, including Michael Gorzynski, whose own $2.09 million purchase added to the momentum during the same stretch of trading days. Taken together, the filings paint a picture of a leadership team that has been notably active in the open market over roughly a one-week period.
Academic research on insider trading has found that clustered purchases — multiple insiders buying within a tight timeframe — have historically correlated with periods of subsequent outperformance more strongly than isolated purchases by a single executive. That said, this pattern is a disclosure of what has already happened, not a forecast, and each insider’s rationale for buying can vary based on personal financial planning, compensation structure, or simply a view on valuation at a given moment.
For now, the filings speak for themselves: 11 purchases, over $7.1 million committed, and a group of AMR directors and executives who have chosen to buy rather than sell during the same late-August window. We’ll continue tracking whether additional filings extend this cluster further in the days ahead.
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Source: original SEC Form 4 filing.