Yahoo Finance Michael Ashner Is The Independent Director of CBL & Associates Properties, Inc. (NYSE:CBL) And They Just Spent US$1.4m On Shares
CBL & Associates Properties, Inc. (NYSE:CBL) shareholders (or potential shareholders) will be happy to see that the Independent Director, Michael Ashner, recently bought a whopping US$1.4m worth of stock, at a price of US$0.52. Not only is that a big swing, but it increased their holding size by 24%, which is definitely great to see.
Check out our latest analysis for CBL & Associates Properties
The Last 12 Months Of Insider Transactions At CBL & Associates Properties
In fact, the recent purchase by Michael Ashner was the biggest purchase of CBL & Associates Properties shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at around the current price of US$0.56. That means they have been optimistic about the company in the past, though they may have changed their mind. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. In this case we're pleased to report that the insider bought shares at close to current prices. Michael Ashner was the only individual insider to buy shares in the last twelve months.
You can see the insider transactions (by 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 growing companies that insiders are 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. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. From looking at our data, insiders own US$3.0m worth of CBL & Associates Properties stock, about 2.9% of the company. I generally like to see higher levels of ownership.
So What Do The CBL & Associates Properties Insider Transactions Indicate?
It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. But we don't feel the same about the fact the company is making losses. 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 CBL & Associates Properties stock. Of course, the future is what matters most. So if you are interested in CBL & Associates Properties, you should check out this free report on analyst forecasts for the company.
But note: CBL & Associates Properties 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.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. 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. Simply Wall St has no position in the stocks mentioned.
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