2 insiders bought €46k of shares over the last 90 days, the latest filed 31 Jul 2026.
Kaleon S.p.A belongs to the Retail sector. Filings by its managers are published through AMF. The last twelve months, up to 18 October 2026, brought 125 filings signed by 55 insiders.
The record shows 123 purchases on the open market worth €1.1M, made by 54 insiders, against 2 sales worth €1.2M by 2 insiders. Taken together, the sales exceed the purchases by €120k. Unlike grants, an open-market purchase is paid for by the insider, at the market price. One trade stands out by size: a sale of €600k from Vitaliano Borromeo, disclosed on 16 February 2026. On the buying side, the filings list 53 board members and 1 chief executive among the declarants.
Compared with its exchange (316 companies, median 6 filings), a count of 125 filings is above the norm. Over the whole record (from 2025), the tally stands at 123 purchases and 2 sales.
In all, 119 purchases were made within 30 days of a purchase by another insider of the company. When several insiders buy within a few weeks of each other, analysts speak of a cluster purchase. The latest purchase dates back some time: it was published 78 days ago, on 31 July 2026. Typically, a trade is published a median of 1 day after it takes place. For comparison, MAR article 19 gives managers three business days to notify a trade.
Elsewhere in the same sector, our signals recently picked up insider purchases at GameStop Corp. and Celsius Holdings, Inc. These figures are compiled from regulatory filings published by AMF. They describe what insiders did and are not a recommendation.
Entry is the close on the day after publication, the first price a reader could act on. Prices in the listing currency. Past moves are not a forecast.
Analysts rate Kaleon S.p.A Buy (bullish), based on 2 analysts. Average price target: €4.95.
Transparent value + quality ranking, distinct from the insider signal.
FY ended December 2025 · cache
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Kaleon S.p.A. is an Italian company focused on the management, protection and enhancement of cultural, artistic and natural heritage assets with a tourism vocation. Controlled by the Borromeo family, the business traces its roots back to 1983, when it was founded under the name SAG to manage the family’s historic assets in a more professional and structured way. Over more than four decades, Kaleon has evolved into a specialized operator combining heritage preservation with tourism development, using a model that separates asset ownership from day-to-day operating management in order to maximize long-term value.
The company operates mainly through its Terre Borromeo brand, which brings together a portfolio of iconic destinations around Lake Maggiore. Key assets include Isola Bella, Isola Madre, Parco Pallavicino, Parco del Mottarone, Rocca di Angera and, more recently, the Castelli di Cannero, which opened to the public in June 2025 after more than ten years of restoration work. Kaleon’s activities span site access, guided tours, ticketing, hospitality-oriented visitor services and other complementary offerings designed to enrich the guest experience. This integrated model allows the company to combine heritage conservation, tourism monetization and premium destination management.
Geographically, Kaleon is primarily concentrated in Italy, with a strong footprint in the Lake Maggiore area across Lombardy and Piedmont, while also presenting itself as a platform with international ambitions in the high-quality cultural tourism space. Its competitive positioning is built on the uniqueness and historical significance of the assets it manages, their strong brand recognition, and a sustainable tourism approach that appeals to both domestic and foreign visitors. The company has reported over 1 million visitors in 2023, with a significant share of international tourists, underlining the attractiveness of its destinations.
Kaleon completed a dual listing on Euronext Growth Milan and Euronext Growth Paris in December 2025, increasing its market visibility and broadening its investor base. Its 2025 results, published in March 2026, showed consolidated revenue of €23.2 million, adjusted EBITDA of €6.1 million and net cash of €3.2 million, illustrating a profitable and cash-generative business model. Overall, Kaleon stands out as a premium heritage tourism operator, combining family legacy, operational expertise and selective development of high-value cultural and natural assets.
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