Insider Buys Additional NZ$410k In Spark New Zealand Stock

Potential Spark New Zealand Limited (NZSE:SPK) shareholders may wish to note that the Independent Chairman of the Board, Justine Gay Smyth, recently bought NZ$410k worth of stock, paying NZ$2.05 for each share. However, it only increased shareholding by a small percentage, and it wasn't a huge purchase by absolute value, either.

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Spark New Zealand Insider Transactions Over The Last Year

In fact, the recent purchase by Justine Gay Smyth was the biggest purchase of Spark New Zealand shares made by an insider individual in the last twelve months, according to our records. So it's clear an insider wanted to buy, even at a higher price than the current share price (being NZ$2.04). It's very possible they regret the purchase, but it's more likely they are bullish about the company. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.

Over the last year, we can see that insiders have bought 447.74k shares worth NZ$1.1m. But they sold 16.00k shares for NZ$64k. In the last twelve months there was more buying than selling by Spark New Zealand insiders. Their average price was about NZ$2.43. This is nice to see since it implies that insiders might see value around current prices. You can see the insider transactions (by companies and 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!

See our latest analysis for Spark New Zealand

There are always plenty of stocks that insiders are buying. If investing in lesser known companies is your style, you could take a look at this free list of companies. (Hint: insiders have been buying them).

Insider Ownership Of Spark New Zealand

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. Our data suggests Spark New Zealand insiders own 0.09% of the company, worth about NZ$3.4m. I generally like to see higher levels of ownership.

So What Do The Spark New Zealand Insider Transactions Indicate?

It's certainly positive to see the recent insider purchases. We also take confidence from the longer term picture of insider transactions. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that Spark New Zealand insiders are expecting a bright future. While it's good to be aware of what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. For instance, we've identified 4 warning signs for Spark New Zealand (1 can't be ignored) you should be aware of.

If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity 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 of direct interests only, but not derivative transactions or indirect interests.

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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.