Potential Stingray Group Inc. (TSE:RAY.A) shareholders may wish to note that the Independent Chairman, Mark Pathy, recently bought CA$435k worth of stock, paying CA$7.25 for each share. While that's a very decent purchase to our minds, it was proportionally a bit modest, boosting their holding by just 1.5%.
Stingray Group Insider Transactions Over The Last Year
In fact, the recent purchase by Independent Chairman Mark Pathy was not their only acquisition of Stingray Group shares this year. They previously made an even bigger purchase of CA$646k worth of shares at a price of CA$7.10 per share. That means that an insider was happy to buy shares at around the current price of CA$7.35. Of course they may have changed their mind. But this suggests they are optimistic. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. The good news for Stingray Group share holders is that insiders were buying at near the current price.
In the last twelve months Stingray Group insiders were buying shares, but not selling. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Stingray Group is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Does Stingray Group Boast High Insider Ownership?
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. We usually like to see fairly high levels of insider ownership. It appears that Stingray Group insiders own 17% of the company, worth about CA$91m. 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 Stingray Group Tell Us?
It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. Insiders likely see value in Stingray Group shares, given these transactions (along with notable insider ownership of the company). So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. At Simply Wall St, we found 3 warning signs for Stingray Group that deserve your attention before buying any shares.
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.
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.
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