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Even if it's not a huge purchase, we think it was good to see that Ramesh Shettigar, the Senior VP of Glatfelter Corporation (NYSE:GLT) recently shelled out US$79k to buy stock, at US$7.85 per share. Even though that isn't a massive buy, it did increase their holding by 116%, which is arguably a good sign.
Glatfelter Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider purchase was by Independent Director Kevin Fogarty for US$335k worth of shares, at about US$13.78 per share. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$7.81). Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.
Glatfelter insiders may have bought shares in the last year, but they didn't sell any. They paid about US$12.30 on average. 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!
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.
Does Glatfelter 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. A high insider ownership often makes company leadership more mindful of shareholder interests. From our data, it seems that Glatfelter insiders own 2.8% of the company, worth about US$9.8m. We do generally prefer see higher levels of insider ownership.
So What Does This Data Suggest About Glatfelter Insiders?
The recent insider purchases are heartening. And the longer term insider transactions also give us confidence. But on the other hand, the company made a loss during the last year, which makes us a little cautious. While the overall levels of insider ownership are below what we'd like to see, the history of transactions imply that Glatfelter insiders are reasonably well aligned, and optimistic for the 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. To help with this, we've discovered 3 warning signs (2 are potentially serious!) that you ought to be aware of before buying any shares in Glatfelter.
But note: Glatfelter 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.
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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.