Yahoo Finance Founder and Executive Chairman of 360 Capital Group Tony Pitt Buys 2.3% More Shares
360 Capital Group Limited (ASX:TGP) shareholders (or potential shareholders) will be happy to see that the Founder and Executive Chairman, Tony Pitt, recently bought a whopping AU$1.2m worth of stock, at a price of AU$0.63. While that only increased their holding size by 2.3%, it is still a big swing by our standards.
Check out our latest analysis for 360 Capital Group
The Last 12 Months Of Insider Transactions At 360 Capital Group
In fact, the recent purchase by Founder and Executive Chairman Tony Pitt was not their only acquisition of 360 Capital Group shares this year. They previously made an even bigger purchase of AU$4.3m worth of shares at a price of AU$0.59 per share. That implies that an insider found the current price of AU$0.61 per share to be enticing. Of course they may have changed their mind. But this suggests they are optimistic. 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. Happily, the 360 Capital Group insiders decided to buy shares at close to current prices.
While 360 Capital Group insiders bought shares during the last year, they didn't sell. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
360 Capital Group is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying.
Insider Ownership Of 360 Capital Group
For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. 360 Capital Group insiders own 43% of the company, currently worth about AU$60m based on the recent share price. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.
So What Do The 360 Capital Group Insider Transactions Indicate?
It is good to see the recent insider purchase. And an analysis of the transactions over the last year also gives us confidence. But on the other hand, the company made a loss during the last year, which makes us a little cautious. When combined with notable insider ownership, these factors suggest 360 Capital Group insiders are well aligned, and quite possibly think the share price is too low. Looks promising! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing 360 Capital Group. For instance, we've identified 3 warning signs for 360 Capital Group (2 are concerning) you should be aware of.
But note: 360 Capital Group may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE 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.
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