The Chief Financial Officer of Planet 13 Holdings Inc. (CSE:PLTH), Dennis Logan, Just Sold 33% Of Their Holding

We'd be surprised if Planet 13 Holdings Inc. (CSE:PLTH) shareholders haven't noticed that the Chief Financial Officer, Dennis Logan, recently sold CA$359k worth of stock at CA$7.18 per share. That sale was 33% of their holding, so it does make us raise an eyebrow.

Check out our latest analysis for Planet 13 Holdings

Planet 13 Holdings Insider Transactions Over The Last Year

In fact, the recent sale by Dennis Logan was the biggest sale of Planet 13 Holdings shares made by an insider individual in the last twelve months, according to our records. So it's clear an insider wanted to take some cash off the table, even below the current price of CA$7.71. As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation. While insider selling is not a positive sign, we can't be sure if it does mean insiders think the shares are fully valued, so it's only a weak sign. This single sale was just 33% of Dennis Logan's stake.

Insiders in Planet 13 Holdings didn't buy any shares in the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

If you like to buy stocks that insiders are buying, rather than selling, then you might just love this free list of companies. (Hint: insiders have been buying them).

Insider Ownership

Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Planet 13 Holdings insiders own 46% of the company, currently worth about CA$644m based on the recent share price. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.

What Might The Insider Transactions At Planet 13 Holdings Tell Us?

An insider sold Planet 13 Holdings shares recently, but they didn't buy any. And even if we look at the last year, we didn't see any purchases. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Planet 13 Holdings. To assist with this, we've discovered 3 warning signs that you should run your eye over to get a better picture of Planet 13 Holdings.

But note: Planet 13 Holdings 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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