Insider Buying: The Coats Group plc (LON:COA) Independent Chairman of the Board Just Bought 28% More Shares

By
Simply Wall St
Published
December 08, 2021
LSE:COA
Source: Shutterstock

Investors who take an interest in Coats Group plc (LON:COA) should definitely note that the Independent Chairman of the Board, David Gosnell, recently paid UK£0.66 per share to buy UK£205k worth of the stock. That's a very solid buy in our book, and increased their holding by a noteworthy 28%.

View our latest analysis for Coats Group

The Last 12 Months Of Insider Transactions At Coats Group

Notably, that recent purchase by David Gosnell is the biggest insider purchase of Coats Group shares that we've seen in the last year. That implies that an insider found the current price of UK£0.69 per share to be enticing. That means they have been optimistic about the company in the past, though they may have changed their mind. 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. In this case we're pleased to report that the insider purchases were made at close to current prices.

In the last twelve months Coats Group insiders were buying shares, but not selling. 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!

insider-trading-volume
LSE:COA Insider Trading Volume December 8th 2021

Coats 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 Coats Group Boast High Insider Ownership?

For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. From our data, it seems that Coats Group insiders own 0.4% of the company, worth about UK£4.1m. We do generally prefer see higher levels of insider ownership.

So What Does This Data Suggest About Coats Group Insiders?

It's certainly positive to see the recent insider purchases. We also take confidence from the longer term picture of insider transactions. On this analysis the only slight negative we see is the fairly low (overall) insider ownership; their transactions suggest that they are quite positive on Coats Group stock. Of course, the future is what matters most. So if you are interested in Coats Group, you should check out this free report on analyst forecasts for the company.

Of course Coats Group may not be the best stock to buy. So you may wish to see this free collection of high quality 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.

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