Yahoo Finance Trade Alert: The Chairman Of Abacus Property Group (ASX:ABP), Myra Salkinder, Has Just Spent AU$99k Buying 21% More Shares
Even if it's not a huge purchase, we think it was good to see that Myra Salkinder, the Chairman of Abacus Property Group (ASX:ABP) recently shelled out AU$99k to buy stock, at AU$2.90 per share. While we're hesitant to get too excited about a purchase of that size, we do note it increased their holding by a solid 21%.
See our latest analysis for Abacus Property Group
Abacus Property Group Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when MD & Director Steven Sewell bought AU$129k worth of shares at a price of AU$2.80 per share. That means that an insider was happy to buy shares at around the current price of AU$2.87. That means they have been optimistic about the company in the past, though they may have changed their mind. 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. The good news for Abacus Property Group share holders is that insiders were buying at near the current price.
In the last twelve months Abacus Property Group insiders were buying shares, but not selling. Their average price was about AU$3.10. These transactions suggest that insiders have considered the current price attractive. 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.
Does Abacus Property Group Boast High Insider Ownership?
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. From looking at our data, insiders own AU$2.3m worth of Abacus Property Group stock, about 0.1% of the company. But they may have an indirect interest through a corporate structure that we haven't picked up on. I generally like to see higher levels of ownership.
So What Does This Data Suggest About Abacus Property Group Insiders?
It's certainly positive to see the recent insider purchases. We also take confidence from the longer term picture of insider transactions. On this analysis the only slight negative we see is the fairly low (overall) insider ownership; their transactions suggest that they are quite positive on Abacus Property Group stock. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. You'd be interested to know, that we found 4 warning signs for Abacus Property Group and we suggest you have a look.
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.
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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