Yahoo Finance Insider Buying: The Gray Television, Inc. (NYSE:GTN) President Just Bought 2.2% More Shares
Whilst it may not be a huge deal, we thought it was good to see that the Gray Television, Inc. (NYSE:GTN) President, Donald LaPlatney, recently bought US$100k worth of stock, for US$9.99 per share. Although the purchase is not a big one, increasing their shareholding by only 2.2%, it can be interpreted as a good sign.
View our latest analysis for Gray Television
Gray Television Insider Transactions Over The Last Year
In the last twelve months, the biggest single sale by an insider was when the Senior VP & Chief Accounting Officer, Jackson Cowart, sold US$352k worth of shares at a price of US$20.25 per share. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. It's of some comfort that this sale was conducted at a price well above the current share price, which is US$11.10. So it may not tell us anything about how insiders feel about the current share price. Jackson Cowart was the only individual insider to sell shares in the last twelve months.
Over the last year, we can see that insiders have bought 25.00k shares worth US$399k. But they sold 17.47k shares for US$352k. In the last twelve months there was more buying than selling by Gray Television insiders. Their average price was about US$15.98. I'd consider this a positive as it suggests insiders see value at around the current price. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Gray Television is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
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. Gray Television insiders own about US$108m worth of shares (which is 11% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.
What Might The Insider Transactions At Gray Television Tell Us?
It's certainly positive to see the recent insider purchases. We also take confidence from the longer term picture of insider transactions. When combined with notable insider ownership, these factors suggest Gray Television insiders are well aligned, and quite possibly think the share price is too low. Nice! So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. Be aware that Gray Television is showing 3 warning signs in our investment analysis, and 1 of those is a bit unpleasant...
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting 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. 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.
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