Whilst it may not be a huge deal, we thought it was good to see that the Ice Group ASA (OB:ICE) CEO & Head of Norwegian Business, Eivind Helgaker, recently bought kr96k worth of stock, for kr21.31 per share. While we’re hesitant to get too excited about a purchase of that size, we do note it increased their holding by a solid 45.7%.
Ice Group Insider Transactions Over The Last Year
In fact, the recent purchase by Eivind Helgaker was the biggest purchase of Ice 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 kr23.50 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. 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 Ice Group share holders is that an insider was buying at near the current price. Eivind Helgaker was the only individual insider to buy shares in the last twelve months.
You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Insider Ownership of Ice Group
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Insiders own 6.9% of Ice Group shares, worth about kr326m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Do The Ice Group Insider Transactions Indicate?
It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. But we don’t feel the same about the fact the company is making losses. When combined with notable insider ownership, these factors suggest Ice Group insiders are well aligned, and quite possibly think the share price is too low. One for the watchlist, at least! Of course, the future is what matters most. So if you are interested in Ice Group, you should check out this free report on analyst forecasts for the company.
But note: Ice 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.
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