Yahoo Finance CEO & Executive Director of CosmoSteel Holdings Picks Up 7.8% More Stock
Investors who take an interest in CosmoSteel Holdings Limited (SGX:B9S) should definitely note that the CEO & Executive Director, Tong Hai Ong, recently paid S$0.13 per share to buy S$361k worth of the stock. While that's a very decent purchase to our minds, it was proportionally a bit modest, boosting their holding by just 7.8%.
See our latest analysis for CosmoSteel Holdings
CosmoSteel Holdings Insider Transactions Over The Last Year
In fact, the recent purchase by Tong Hai Ong was the biggest purchase of CosmoSteel Holdings shares made by an insider individual in the last twelve months, according to our records. That implies that an insider found the current price of S$0.13 per share to be enticing. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. In this case we're pleased to report that the insider bought shares at close to current prices. The only individual insider to buy over the last year was Tong Hai Ong.
You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Does CosmoSteel Holdings Boast High Insider Ownership?
Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that CosmoSteel Holdings insiders own 36% of the company, worth about S$13m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Does This Data Suggest About CosmoSteel Holdings Insiders?
The recent insider purchase is heartening. And the longer term insider transactions also give us confidence. Insiders likely see value in CosmoSteel Holdings shares, given these transactions (along with notable insider ownership of the company). So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. You'd be interested to know, that we found 3 warning signs for CosmoSteel Holdings and we suggest you have a look.
Of course CosmoSteel Holdings may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
