Even if it's not a huge purchase, we think it was good to see that Enzio Di Gennaro, the Chief Financial Officer of Richards Packaging Income Fund (TSE:RPI.UN) recently shelled out CA$69k to buy stock, at CA$68.50 per share. Although the purchase is not a big one, increasing their shareholding by only 1.2%, it can be interpreted as a good sign.
The Last 12 Months Of Insider Transactions At Richards Packaging Income Fund
In the last twelve months, the biggest single purchase by an insider was when Gerard Glynn bought CA$135m worth of shares at a price of CA$67.50 per share. So it's clear an insider wanted to buy, at around the current price, which is CA$69.85. That means they have been optimistic about the company in the past, though they may have changed their mind. 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 Richards Packaging Income Fund insiders decided to buy shares at close to current prices. We note that Gerard Glynn was both the biggest buyer and the biggest seller.
Happily, we note that in the last year insiders paid CA$216m for 3.20m shares. But they sold 1.20m shares for CA$81m. Overall, Richards Packaging Income Fund insiders were net buyers during the last year. You can see the insider transactions (by companies and 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!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Does Richards Packaging Income Fund Boast High Insider Ownership?
Many investors like to check how much of a company is owned by insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It's great to see that Richards Packaging Income Fund insiders own 34% of the company, worth about CA$269m. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.
What Might The Insider Transactions At Richards Packaging Income Fund Tell Us?
It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. Once you factor in the high insider ownership, it certainly seems like insiders are positive about Richards Packaging Income Fund. Nice! Therefore, you should definitely take a look at this FREE report showing analyst forecasts for Richards Packaging Income Fund.
But note: Richards Packaging Income Fund 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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