Yahoo Finance Vice Chairman Anthony Munk Just Bought 5.4% More Shares In Onex Corporation (TSE:ONEX)
Those following along with Onex Corporation (TSE:ONEX) will no doubt be intrigued by the recent purchase of shares by Anthony Munk, Vice Chairman of the company, who spent a stonking CA$1.9m on stock at an average price of CA$64.02. While that only increased their holding size by 5.4%, it is still a big swing by our standards.
View our latest analysis for Onex
Onex Insider Transactions Over The Last Year
Notably, that recent purchase by Anthony Munk is the biggest insider purchase of Onex shares that we've seen in the last year. That means that even when the share price was higher than CA$62.39 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. In our view, the price an insider pays for shares is very important. 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.
Happily, we note that in the last year insiders paid CA$3.1m for 45.94k shares. On the other hand they divested 36.61k shares, for CA$2.6m. Overall, Onex insiders were net buyers during the last year. 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 growing companies that insiders are buying.
Insider Ownership Of Onex
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. Onex insiders own 15% of the company, currently worth about CA$758m based on the recent share price. Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.
So What Does This Data Suggest About Onex Insiders?
It is good to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. Once you factor in the high insider ownership, it certainly seems like insiders are positive about Onex. Looks promising! I like to dive deeper into how a company has performed in the past. You can access this interactive graph of past earnings, revenue and cash flow for free.
But note: Onex 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.
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