Yahoo Finance David Purdy Bought 27% More Shares In Stingray Group
Investors who take an interest in Stingray Group Inc. (TSE:RAY.A) should definitely note that the Chief Revenue Officer, David Purdy, recently paid CA$5.42 per share to buy CA$488k worth of the stock. That's a very solid buy in our book, and increased their holding by a noteworthy 27%.
View our latest analysis for Stingray Group
Stingray Group Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider purchase was by Independent Chairman Mark Pathy for CA$584k worth of shares, at about CA$5.08 per share. That means that an insider was happy to buy shares at around the current price of CA$5.54. 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. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. The good news for Stingray Group share holders is that insiders were buying at near the current price.
While Stingray Group insiders bought shares during the last year, they didn't sell. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
Stingray Group is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership Of Stingray Group
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 Stingray Group insiders own 27% of the company, worth about CA$101m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Do The Stingray Group Insider Transactions Indicate?
It's certainly positive to see the recent insider purchases. We also take confidence from the longer term picture of insider transactions. Once you factor in the high insider ownership, it certainly seems like insiders are positive about Stingray Group. Looks promising! So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Case in point: We've spotted 2 warning signs for Stingray Group you should be aware of.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
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.
