{"scope": "company", "symbol": "MBIN", "name": "Merchants Bancorp", "intelligence": {"score": 37, "label": "Distribution bias", "tone": "negative", "stance": "Demand a stronger confirmation bar", "brief": "Priced common-share disposals are concentrated enough to warrant review, but they are not treated as a standalone bearish forecast.", "confidence": 72, "confidence_label": "Well supported", "filings": 16, "companies": 1, "insiders": 11, "signal_events": 5, "acquisition_events": 1, "disposal_events": 4, "acquisition_share": 20.0, "disposal_share": 80.0, "acquisition_value": 122762.01, "disposal_value": 2819169.24, "net_value": -2696407.23, "acquisition_value_label": "$122.8K", "disposal_value_label": "$2.8M", "net_value_label": "-$2.7M", "data_quality": 75, "priced_common_share": 75, "latest_date": "2026-08-05", "latest_signal_date": "2026-07-30", "oldest_date": "2026-05-05", "evidence_classes": [{"key": "common_equity", "label": "Common equity", "count": 16, "bar_width": 100.0}, {"key": "equity_award", "label": "Equity compensation", "count": 0, "bar_width": 0.0}, {"key": "derivative", "label": "Options and derivatives", "count": 0, "bar_width": 0.0}, {"key": "other", "label": "Other securities", "count": 0, "bar_width": 0.0}], "roles": [{"label": "Director", "count": 8, "bar_width": 100.0}, {"label": "CEO and chair", "count": 7, "bar_width": 87.5}, {"label": "Other executive", "count": 1, "bar_width": 12.5}], "supports": ["Participation spans 11 named insiders rather than one filing source."], "risks": ["Qualifying disposal events outnumber acquisitions, although disposals receive a lower directional weight."]}, "timeline": [{"start": "2026-05-25", "label": "25 May", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-06-01", "label": "01 Jun", "acquisitions": 0, "disposals": 1, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 1, "height": 50.0, "acquisition_height": 0.0, "disposal_height": 100.0}, {"start": "2026-06-08", "label": "08 Jun", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-06-15", "label": "15 Jun", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-06-22", "label": "22 Jun", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-06-29", "label": "29 Jun", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-07-06", "label": "06 Jul", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-07-13", "label": "13 Jul", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-07-20", "label": "20 Jul", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}, {"start": "2026-07-27", "label": "27 Jul", "acquisitions": 0, "disposals": 2, "qualified_acquisitions": 0, "qualified_disposals": 2, "total": 2, "height": 100.0, "acquisition_height": 0.0, "disposal_height": 100.0}, {"start": "2026-08-03", "label": "03 Aug", "acquisitions": 0, "disposals": 1, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 1, "height": 50.0, "acquisition_height": 0.0, "disposal_height": 100.0}, {"start": "2026-08-10", "label": "10 Aug", "acquisitions": 0, "disposals": 0, "qualified_acquisitions": 0, "qualified_disposals": 0, "total": 0, "height": 0.0, "acquisition_height": 0, "disposal_height": 0}], "market": {"latest_week": "2026-08-07", "latest_close": "54.250000", "currency": "USD", "one_week_change": "-1.685393258426966292134831461", "thirteen_week_change": "12.97376093294460641399416910", "four_week_change": "12.97376093294460641399416910", "range_high": "56.870000", "range_low": "44.091362", "average_volume": 774570, "relative_strength": "19.020373", "market_dynamics": "0.258396", "fair_value": "38.200770", "fair_value_gap": "42.01284424371550625811992795", "trend_signal": "1", "one_week_change_label": "-1.7%", "thirteen_week_change_label": "+13.0%", "four_week_change_label": "+13.0%", "fair_value_gap_label": "+42.0%"}, "transactions": [{"date": "2026-08-05", "insider": "DURY, MICHAEL R.", "role": "CEO of Merchants Capital", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-07-30", "insider": "KAERCHER, JULIA L.", "role": "Director", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "496800.0000", "value_label": "$496.8K"}, {"date": "2026-07-30", "insider": "PETRIE, MICHAEL F.", "role": "Director, Chairman and CEO, 10% Owner", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "496800.0000", "value_label": "$496.8K"}, {"date": "2026-06-03", "insider": "DURY, MICHAEL R.", "role": "CEO of Merchants Capital", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-21", "insider": "CATCHINGS, TAMIKA", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": "17537.4300", "value_label": "$17.5K"}, {"date": "2026-05-21", "insider": "CURLESS, MICHAEL S", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": "17537.4300", "value_label": "$17.5K"}, {"date": "2026-05-21", "insider": "DINWIDDIE, THOMAS", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": "17537.4300", "value_label": "$17.5K"}, {"date": "2026-05-21", "insider": "JUSTER, ANDREW", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": "17537.4300", "value_label": "$17.5K"}, {"date": "2026-05-21", "insider": "O'BRIEN, PATRICK D.", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": "17537.4300", "value_label": "$17.5K"}, {"date": "2026-05-21", "insider": "SELLERS, ANNE E.", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": "17537.4300", "value_label": "$17.5K"}, {"date": "2026-05-21", "insider": "SHAFFER, MARK E.", "role": "Director", "side": "Acquisition", "security": "Common Stock", "evidence_class": "common_equity", "value": "17537.4300", "value_label": "$17.5K"}, {"date": "2026-05-15", "insider": "PETRIE, MICHAEL F.", "role": "Director, Chairman and CEO, 10% Owner", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-07", "insider": "LANGFORD, KEVIN T", "role": "Chief Administrative Officer", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": null, "value_label": "Not reported"}, {"date": "2026-05-06", "insider": "PETRIE, MICHAEL F.", "role": "Director, Chairman and CEO, 10% Owner", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "390531.2400", "value_label": "$390.5K"}, {"date": "2026-05-05", "insider": "PETRIE, MICHAEL F.", "role": "Director, Chairman and CEO, 10% Owner", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "935000.0000", "value_label": "$935.0K"}, {"date": "2026-05-05", "insider": "PETRIE, MICHAEL F.", "role": "Director, Chairman and CEO, 10% Owner", "side": "Disposal", "security": "Common Stock", "evidence_class": "common_equity", "value": "500038.0000", "value_label": "$500.0K"}], "method": "Directional scores use deduplicated, priced common-share evidence with asymmetric disposal weighting, role, freshness, and size controls."}