Potential Ocean Yield ASA (OB:OCY) shareholders may wish to note that the Chief Executive Officer, Lars Solbakken, recently bought US$1.8m worth of stock, paying US$50.70 for each share. Although the purchase only increased their holding by 2.4%, it is still a solid purchase in our view.
Ocean Yield Insider Transactions Over The Last Year
Notably, that recent purchase by Chief Executive Officer Lars Solbakken was not the only time they bought Ocean Yield shares this year. They previously made an even bigger purchase of kr1.9m worth of shares at a price of kr63.10 per share. That means that an insider was happy to buy shares at above the current price of kr50.90. Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. As a general rule, we feel more positive about a stock if insiders have bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price.
Happily, we note that in the last year insiders bought 141k shares for a total of kr8.0m. While Ocean Yield insiders bought shares last year, they didn’t sell. The chart below shows insider transactions (by individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
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. Insiders own 1.5% of Ocean Yield shares, worth about kr118m. While this is a strong but not outstanding level of insider ownership, it’s enough to indicate some alignment between management and smaller shareholders.
What Might The Insider Transactions At Ocean Yield Tell Us?
It’s certainly positive to see the recent insider purchases. And the longer term insider transactions also give us confidence. Once you factor in the high insider ownership, it certainly seems like insiders are positive about Ocean Yield. That’s what I like to see! Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for Ocean Yield.
Of course Ocean Yield 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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If you spot an error that warrants correction, please contact the editor at firstname.lastname@example.org. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.