Yahoo Finance Wayne Foo Is The Chairman of the Board of Parex Resources Inc. (TSE:PXT) And Just Spent US$158k On Shares
Investors who take an interest in Parex Resources Inc. (TSE:PXT) should definitely note that the Chairman of the Board, Wayne Foo, recently paid CA$21.07 per share to buy CA$158k worth of the stock. Although the purchase is not a big one, by either a percentage standpoint or absolute value, it can be seen as a good sign.
View our latest analysis for Parex Resources
The Last 12 Months Of Insider Transactions At Parex Resources
The Lead Independent Director, Robert Engbloom, made the biggest insider sale in the last 12 months. That single transaction was for CA$276k worth of shares at a price of CA$27.80 each. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. The silver lining is that this sell-down took place above the latest price (CA$21.14). So it is hard to draw any strong conclusion from it.
In the last twelve months insiders purchased 35.73k shares for CA$808k. But insiders sold 16.00k shares worth CA$444k. In total, Parex Resources insiders bought more than they sold over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership Of Parex Resources
Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. Insiders own 1.9% of Parex Resources shares, worth about CA$45m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
What Might The Insider Transactions At Parex Resources Tell Us?
The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. Insiders likely see value in Parex Resources shares, given these transactions (along with notable insider ownership of the company). So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. In terms of investment risks, we've identified 1 warning sign with Parex Resources and understanding this should be part of your investment process.
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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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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