Insider Spends US$262k Buying More Shares In PHINIA

Investors who take an interest in PHINIA Inc. (NYSE:PHIN) should definitely note that the Independent Non-Executive Chairman, Rohan Weerasinghe, recently paid US$42.78 per share to buy US$262k worth of the stock. That's a very solid buy in our book, and increased their holding by a noteworthy 37%.

Check out our latest analysis for PHINIA

The Last 12 Months Of Insider Transactions At PHINIA

Notably, that recent purchase by Rohan Weerasinghe is the biggest insider purchase of PHINIA shares that we've seen in the last year. That means that an insider was happy to buy shares at around the current price of US$43.13. 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 PHINIA share holders is that insiders were buying at near the current price.

Over the last year, we can see that insiders have bought 6.38k shares worth US$274k. But insiders sold 10.73k shares worth US$466k. In total, PHINIA insiders sold more than they bought over the last year. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality.

For those who like to find hidden gems this free list of small cap companies with recent insider purchasing, could be just the ticket.

Insider Ownership

Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 1.9% of PHINIA shares, worth about US$34m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.

So What Does This Data Suggest About PHINIA Insiders?

It is good to see the recent insider purchase. But we can't say the same for the transactions over the last 12 months. The more recent transactions are a positive, but PHINIA insiders haven't shown the sustained enthusiasm that we look for, although they do own a decent number of shares, overall. Overall they seem reasonably aligned. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. At Simply Wall St, we found 1 warning sign for PHINIA that deserve your attention before buying any shares.

Of course PHINIA 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 of direct interests only, but not derivative transactions or indirect interests.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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.