Mattr Independent Director Alan Hibben Sells 74% Of Holding

Anyone interested in Mattr Corp. (TSE:MATR) should probably be aware that the Independent Director, Alan Hibben, recently divested CA$631k worth of shares in the company, at an average price of CA$11.27 each. In particular, we note that the sale equated to a 74% reduction in their position size, which doesn't exactly instill confidence.

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The Last 12 Months Of Insider Transactions At Mattr

Notably, that recent sale by Alan Hibben is the biggest insider sale of Mattr shares that we've seen in the last year. That means that an insider was selling shares at around the current price of CA$11.38. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. We note that this sale took place at around the current price, so it isn't a major concern, though it's hardly a good sign.

Over the last year, we can see that insiders have bought 29.79k shares worth CA$335k. But insiders sold 91.92k shares worth CA$1.0m. Alan Hibben ditched 91.92k shares over the year. The average price per share was CA$11.12. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

See our latest analysis for Mattr

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Does Mattr Boast High Insider Ownership?

For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. From looking at our data, insiders own CA$5.1m worth of Mattr stock, about 0.7% of the company. I generally like to see higher levels of ownership.

So What Do The Mattr Insider Transactions Indicate?

The stark truth for Mattr is that there has been more insider selling than insider buying in the last three months. And our longer term analysis of insider transactions didn't bring confidence, either. But it is good to see that Mattr is growing earnings. Insiders own relatively few shares in the company, and when you consider the sales, we're not particularly excited about the stock. So we're not rushing to buy, to say the least. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. To help with this, we've discovered 3 warning signs (1 can't be ignored!) that you ought to be aware of before buying any shares in Mattr.

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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.