Stingray Group Inc. (TSE:RAY.A) shareholders (or potential shareholders) will be happy to see that the Co-Founder, Eric Boyko, recently bought a whopping CA$1.4m worth of stock, at a price of CA$7.20. Not only is that a big swing, but it increased their holding size by 25%, which is definitely great to see.
Stingray Group Insider Transactions Over The Last Year
In fact, the recent purchase by Eric Boyko was the biggest purchase of Stingray Group shares made by an insider individual in the last twelve months, according to our records. That implies that an insider found the current price of CA$7.47 per share to be enticing. 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. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. The good news for Stingray Group share holders is that insiders were buying at near the current price.
While Stingray Group insiders bought shares during the last year, they didn't sell. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership of Stingray Group
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 18% of the company, worth about CA$93m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Do The Stingray Group Insider Transactions Indicate?
The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. Insiders likely see value in Stingray Group shares, given these transactions (along with notable insider ownership of the company). In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Stingray Group. At Simply Wall St, we found 2 warning signs for Stingray Group that deserve your attention before buying any shares.
But note: Stingray Group 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.
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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