Potential Granite Point Mortgage Trust Inc. (NYSE:GPMT) shareholders may wish to note that the Chief Operating Officer, Steven Plust, recently bought US$197k worth of stock, paying US$18.56 for each share. While that’s a very decent purchase to our minds, it was proportionally a bit modest, boosting their holding by just 8.6%.
Granite Point Mortgage Trust Insider Transactions Over The Last Year
Notably, that recent purchase by Steven Plust is the biggest insider purchase of Granite Point Mortgage Trust shares that we’ve seen in the last year. So it’s clear an insider wanted to buy, even at a higher price than the current share price (being US$18.33). Their view may have changed since then, but at least it shows they felt optimistic at the time. To us, it’s very important to consider the price insiders pay for shares is very important. Generally speaking, it catches our eye when an insider has purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. Steven Plust was the only individual insider to buy over the year.
You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Does Granite Point Mortgage Trust Boast High Insider Ownership?
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. I reckon it’s a good sign if insiders own a significant number of shares in the company. It appears that Granite Point Mortgage Trust insiders own 1.9% of the company, worth about US$19m. 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 Granite Point Mortgage Trust Insider Transactions Indicate?
It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. Insiders likely see value in Granite Point Mortgage Trust shares, given these transactions (along with notable insider ownership of the company). Of course, the future is what matters most. So if you are interested in Granite Point Mortgage Trust, you should check out this free report on analyst forecasts for the company.
But note: Granite Point Mortgage Trust 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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