HKHC Horizon Kinetics Holding Corp
Price Chart
Executive Summary
Two insiders at Horizon Kinetics (CFO Herndon and Director Rosenthal) made open-market purchases totaling $22K on May 20, 2026, following the company's Q1 earnings release (May 15) and a material agreement with Texas Pacific Land Corporation (May 5). The purchases are small in absolute terms but cluster with recent positive corporate developments — a board seat at TPL and a massive earnings quarter driven by incentive fees and unrealized gains.
Key Financial Metrics
Actionable Insight
The insider buys are small but directionally aligned with recent positive catalysts (TPL board seat, strong earnings quarter). However, the company's historical T+20 performance has been severely negative following prior reports, and the dollar amount is trivial relative to market cap. Treat this as a modest confidence signal — monitor for additional insider buying or selling in the coming weeks before taking a position.
Key Facts
- CFO Mark Herndon purchased 100 shares at $27.85 ($2,785) on May 20, 2026
- Director Brent Rosenthal purchased 700 shares at $27.85 ($19,495) on May 20, 2026
- Total insider purchases: $22,280 (0.007% of market cap based on ~$326M market cap)
- Purchases occurred 5 days after Q1 2026 earnings showing net income of $72.5M ($3.89/share) vs $22.8M ($1.23/share) YoY
- Purchases occurred 9 days after HKHC entered a Board Representative Agreement with Texas Pacific Land Corporation (TPL), gaining a board seat
- Historical performance on HKHC reports shows 0% win rate at T+20 over 7 settled reports, with average T+20 return of -20.44%
Financial Impact
Insider purchases total $22,280 — immaterial relative to company size
Risk Factors
- Insider purchases are very small in dollar terms — may reflect token alignment rather than conviction
- Historical T+20 performance on HKHC reports is deeply negative (avg -20.44%), suggesting the stock has been under persistent selling pressure
- Core management fee revenue declined YoY — the earnings beat was driven by non-recurring incentive fees and unrealized gains
- OTC-listed stock with limited liquidity — small trades can have outsized price impact
Market Snapshot
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-HKHC-1779375880352 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
May 21, 2026
19d ago
|
Insider Cluster
| $27.50 $27.49 | ▼ −0.04% | ▼ −1.64% | $27.60 (+0.36%) |
|
May 15, 2026
25d ago
|
8-K
| $28.25 $27.00 | ▼ −4.42% | ▼ −5.39% | $27.60 (−2.30%) |
|
Apr 8, 2026
8w ago
|
8-K
| $27.50 $26.31 | ▲ +4.33% | ▲ +7.51% | $27.60 (−0.36%) |
|
Mar 18, 2026
12w ago
|
Insider Cluster
| $33.02 $33.00 | ▼ −0.06% | ▲ +0.36% | $27.60 (−16.41%) |
|
Mar 18, 2026
12w ago
|
Insider Cluster
| $33.02 $33.00 | ▼ −0.06% | ▲ +0.36% | $27.60 (−16.41%) |
|
Mar 18, 2026
12w ago
|
Insider Cluster
| $34.19 $33.00 | ▼ −3.48% | ▲ +0.08% | $27.60 (−19.27%) |
|
Mar 18, 2026
12w ago
|
Insider Cluster
| $34.18 $33.25 | ▼ −2.72% | ▼ −0.57% | $27.60 (−19.25%) |
|
Mar 18, 2026
12w ago
|
Insider Cluster
| $33.88 $33.00 | ▼ −2.60% | ▼ −0.39% | $27.60 (−18.54%) |
|
Mar 18, 2026
12w ago
|
Insider Cluster
| $33.88 $33.00 | ▼ −2.60% | ▼ −0.39% | $27.60 (−18.54%) |
US Market Status
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