The Director of Hall of Fame Resort & Entertainment Company (NASDAQ:HOFV), Stuart Lichter, Just Bought 245% More Shares

Hall of Fame Resort & Entertainment Company (NASDAQ:HOFV) shareholders (or potential shareholders) will be happy to see that the Director, Stuart Lichter, recently bought a whopping US$15m worth of stock, at a price of US$1.40. That purchase boosted their holding by 245%, which makes us wonder if the move was inspired by quietly confident deeply-felt optimism.

Check out our latest analysis for Hall of Fame Resort & Entertainment

The Last 12 Months Of Insider Transactions At Hall of Fame Resort & Entertainment

Notably, that recent purchase by Stuart Lichter is the biggest insider purchase of Hall of Fame Resort & Entertainment shares that we've seen in the last year. That means that even when the share price was higher than US$1.23 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. To us, it's very important to consider the price insiders pay for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.

While Hall of Fame Resort & Entertainment insiders bought shares during the last year, they didn't sell. 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!

Hall of Fame Resort & Entertainment is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.

Does Hall of Fame Resort & Entertainment Boast High Insider Ownership?

I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Insiders own 13% of Hall of Fame Resort & Entertainment shares, worth about US$8.4m, according to our data. However, it's possible that insiders might have an indirect interest through a more complex structure. We do generally prefer see higher levels of insider ownership.

So What Does This Data Suggest About Hall of Fame Resort & Entertainment Insiders?

The recent insider purchases are heartening. We also take confidence from the longer term picture of insider transactions. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that Hall of Fame Resort & Entertainment insiders are expecting a bright future. 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. Case in point: We've spotted 3 warning signs for Hall of Fame Resort & Entertainment you should be aware of.

But note: Hall of Fame Resort & Entertainment 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.

When trading Hall of Fame Resort & Entertainment or any other investment, use the platform considered by many to be the Professional's Gateway to the Worlds Market, Interactive Brokers. You get the lowest-cost* trading on stocks, options, futures, forex, bonds and funds worldwide from a single integrated account. Promoted

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.
^*Interactive Brokers Rated Lowest Cost Broker by StockBrokers.com Annual Online Review 2020

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