Whilst it may not be a huge deal, we thought it was good to see that the PrairieSky Royalty Ltd. (TSE:PSK) President, Andrew Phillips, recently bought CA$71k worth of stock, for CA$14.17 per share. However, we do note that it only increased their holding by 0.7%, and it wasn’t a huge purchase by absolute value, either.
PrairieSky Royalty Insider Transactions Over The Last Year
Independent Director Robert Robotti made the biggest insider purchase in the last 12 months. That single transaction was for CA$264k worth of shares at a price of CA$13.19 each. That means that an insider was happy to buy shares at around the current price of CA$14.45. 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. In this case we’re pleased to report that the insider purchases were made at close to current prices.
Over the last year, we can see that insiders have bought 69.18k shares worth CA$944k. But insiders sold 1000 shares worth CA$20k. In total, PrairieSky Royalty insiders bought more than they sold over the last year. You can see the insider transactions (by individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!
PrairieSky Royalty is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Does PrairieSky Royalty 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 PrairieSky Royalty insiders own 1.1% of the company, worth about CA$37m. We’ve certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
What Might The Insider Transactions At PrairieSky Royalty Tell Us?
The recent insider purchase is heartening. And the longer term insider transactions also give us confidence. Given that insiders also own a fair bit of PrairieSky Royalty we think they are probably pretty confident of a bright future. Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for PrairieSky Royalty.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting 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, but not derivative transactions.
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