Potential Tanger Factory Outlet Centers, Inc. (NYSE:SKT) shareholders may wish to note that the CEO & Director, Steven Tanger, recently bought US$145k worth of stock, paying US$14.48 for each share. While that’s a very decent purchase to our minds, it was proportionally a bit modest, boosting their holding by just 0.8%.
The Last 12 Months Of Insider Transactions At Tanger Factory Outlet Centers
In the last twelve months, the biggest single sale by an insider was when the insider, Virginia Summerell, sold US$230k worth of shares at a price of US$18.25 per share. While we don’t usually like to see insider selling, it’s more concerning if the sales take place at a lower price. The good news is that this large sale was at well above current price of US$14.31. So it may not shed much light on insider confidence at current levels.
Happily, we note that in the last year insiders paid US$391k for 27000 shares. But they sold 49628 for US$1.0m. All up, insiders sold more shares in Tanger Factory Outlet Centers than they bought, over the last year. The chart below shows insider transactions (by individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that Tanger Factory Outlet Centers insiders own 3.5% of the company, worth about US$49m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
What Might The Insider Transactions At Tanger Factory Outlet Centers Tell Us?
It’s certainly positive to see the recent insider purchases. However, the longer term transactions are not so encouraging. The more recent transactions are a positive, but Tanger Factory Outlet Centers insiders haven’t shown the sustained enthusiasm that we look for, although they do own a decent number of shares, overall. In short they are likely aligned with shareholders. Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for Tanger Factory Outlet Centers.
But note: Tanger Factory Outlet Centers 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, but not derivative transactions.
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