Yahoo Finance Mark Wilson Bought 5.6% More Shares In Legend Mining
Even if it's not a huge purchase, we think it was good to see that Mark Wilson, the Executive Chairman of Legend Mining Limited (ASX:LEG) recently shelled out AU$125k to buy stock, at AU$0.017 per share. However, it only increased their shares held by 5.6%, and it wasn't a huge purchase by absolute value, either.
Check out our latest analysis for Legend Mining
Legend Mining Insider Transactions Over The Last Year
Notably, that recent purchase by Mark Wilson is the biggest insider purchase of Legend Mining shares that we've seen in the last year. That implies that an insider found the current price of AU$0.018 per share to be enticing. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. 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. Happily, the Legend Mining insiders decided to buy shares at close to current prices.
Legend Mining insiders may have bought shares in the last year, but they didn't sell any. They paid about AU$0.023 on average. I'd consider this a positive as it suggests insiders see value at around the current price. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Legend Mining is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership Of Legend Mining
Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Our data indicates that Legend Mining insiders own about AU$4.1m worth of shares (which is 7.8% of the company). However, it's possible that insiders might have an indirect interest through a more complex structure. We do generally prefer see higher levels of insider ownership.
What Might The Insider Transactions At Legend Mining Tell Us?
It's certainly positive 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. While the overall levels of insider ownership are below what we'd like to see, the history of transactions imply that Legend Mining insiders are reasonably well aligned, and optimistic for the future. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Legend Mining. Our analysis shows 5 warning signs for Legend Mining (2 don't sit too well with us!) and we strongly recommend you look at them before investing.
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 of direct interests only, but not derivative transactions or indirect interests.
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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.
