Yahoo Finance Director of AutoCanada Christopher Harris Buys 62% More Shares
Whilst it may not be a huge deal, we thought it was good to see that the AutoCanada Inc. (TSE:ACQ) Director, Christopher Harris, recently bought CA$72k worth of stock, for CA$14.48 per share. While that isn't the hugest buy, it actually boosted their shareholding by 62%, which is good to see.
Check out our latest analysis for AutoCanada
AutoCanada Insider Transactions Over The Last Year
Notably, that recent purchase by Christopher Harris is the biggest insider purchase of AutoCanada 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 CA$14.65. That means they have been optimistic about the company in the past, though they may have changed their mind. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. Happily, the AutoCanada insider decided to buy shares at close to current prices. Christopher Harris was the only individual insider to buy shares in the last twelve months.
Christopher Harris bought a total of 8.00k shares over the year at an average price of CA$16.41. 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!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of undervalued small cap companies that insiders are buying.
Insider Ownership
For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Our information indicates that AutoCanada insiders own about CA$1.2m worth of shares. This level of insider ownership is notably low, and not very encouraging.
So What Do The AutoCanada Insider Transactions Indicate?
It's certainly positive to see the recent insider purchase. And an analysis of the transactions over the last year also gives us confidence. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. On this analysis the only slight negative we see is the fairly low (overall) insider ownership; their transactions suggest that they are quite positive on AutoCanada stock. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. You'd be interested to know, that we found 1 warning sign for AutoCanada and we suggest you have a look.
But note: AutoCanada 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 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.
