Investors who take an interest in Stingray Group Inc. (TSE:RAY.A) should definitely note that the Independent Chairman, Mark Pathy, recently paid CA$6.20 per share to buy CA$275k worth of the stock. While that's a very decent purchase to our minds, it was proportionally a bit modest, boosting their holding by just 1.9%.
The Last 12 Months Of Insider Transactions At Stingray Group
Notably, that recent purchase by Independent Chairman Mark Pathy was not the only time they bought Stingray Group shares this year. They previously made an even bigger purchase of CA$1.3m worth of shares at a price of CA$6.25 per share. That means that an insider was happy to buy shares at around the current price of CA$6.56. 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. 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. The good news for Stingray Group share holders is that insiders were buying at near the current price.
In the last twelve months Stingray Group insiders were buying shares, but not selling. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
Stingray Group is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership of Stingray Group
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 13% of Stingray Group shares, worth about CA$63m. 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 Stingray Group Tell Us?
It's certainly positive to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. Insiders likely see value in Stingray Group shares, given these transactions (along with notable insider ownership of the company). Of course, the future is what matters most. So if you are interested in Stingray Group, you should check out this free report on analyst forecasts for the company.
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, but not derivative transactions.
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