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Have Insiders Sold SP Plus Corporation (NASDAQ:SP) Shares Recently?
We'd be surprised if SP Plus Corporation (NASDAQ:SP) shareholders haven't noticed that the President of Airport Division, John Ricchiuto, recently sold US$119k worth of stock at US$34.01 per share. However, the silver lining is that the sale only reduced their total holding by 9.9%, so we're hesitant to read anything much into it, on its own.
See our latest analysis for SP Plus
The Last 12 Months Of Insider Transactions At SP Plus
In fact, the recent sale by John Ricchiuto was the biggest sale of SP Plus shares made by an insider individual in the last twelve months, according to our records. That means that an insider was selling shares at below the current price (US$34.68). As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation. However, while insider selling is sometimes discouraging, it's only a weak signal. We note that the biggest single sale was only 9.9%of John Ricchiuto's holding.
In the last twelve months insiders purchased 8.10k shares for US$155k. On the other hand they divested 6.00k shares, for US$191k. John Ricchiuto ditched 6.00k shares over the year. The average price per share was US$31.90. 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!
For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. It appears that SP Plus insiders own 1.4% of the company, worth about US$12m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
What Might The Insider Transactions At SP Plus Tell Us?
An insider hasn't bought SP Plus stock in the last three months, but there was some selling. Despite some insider buying, the longer term picture doesn't make us feel much more positive. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We're in no rush to buy! While we like knowing 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. To that end, you should learn about the 3 warning signs we've spotted with SP Plus (including 2 which make us uncomfortable).
Of course SP Plus 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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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. 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.
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About NasdaqGS:SP
SP Plus
Provides mobility solutions, parking services, parking management, ground transportation, baggage handling, and other ancillary services.
Overvalued with poor track record.