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Investors who take an interest in Odyssey Gold Limited (ASX:ODY) should definitely note that the Non-Executive Director, Levi Mochkin, recently paid AU$0.09 per share to buy AU$360k worth of the stock. That's a very decent purchase to our minds and it grew their holding by a solid 32%.
Odyssey Gold Insider Transactions Over The Last Year
Notably, that recent purchase by Levi Mochkin is the biggest insider purchase of Odyssey Gold shares that we've seen in the last year. So it's clear an insider wanted to buy, at around the current price, which is AU$0.091. 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. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. The good news for Odyssey Gold share holders is that insiders were buying at near the current price.
While Odyssey Gold insiders bought shares during the last year, they didn't sell. The average buy price was around AU$0.032. To my mind it is good that insiders have invested their own money in the company. But we must note that the investments were made at well below today's share price. 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!
Odyssey Gold 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.
Does Odyssey Gold Boast High Insider Ownership?
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that Odyssey Gold insiders own 17% of the company, worth about AU$9.4m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Do The Odyssey Gold Insider Transactions Indicate?
The recent insider purchase is heartening. We also take confidence from the longer term picture of insider transactions. But we don't feel the same about the fact the company is making losses. Insiders likely see value in Odyssey Gold shares, given these transactions (along with notable insider ownership of the company). In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Odyssey Gold. For example, Odyssey Gold has 4 warning signs (and 2 which are potentially serious) we think you should know about.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
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.
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. 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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