Bullish Alta Equipment Group Insiders Loaded Up On US$949.2k Of Stock
When a single insider purchases stock, it is typically not a major deal. However, when multiple insiders purchase stock, like in Alta Equipment Group Inc.'s (NYSE:ALTG) instance, it's good news for shareholders.
While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we do think it is perfectly logical to keep tabs on what insiders are doing.
See our latest analysis for Alta Equipment Group
The Last 12 Months Of Insider Transactions At Alta Equipment Group
In the last twelve months, the biggest single purchase by an insider was when CEO & Chairman Ryan Greenawalt bought US$171k worth of shares at a price of US$14.32 per share. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$11.57). 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 always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
While Alta Equipment Group insiders bought shares during the last year, they didn't sell. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Alta Equipment Group is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership Of Alta Equipment Group
For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. It appears that Alta Equipment Group insiders own 21% of the company, worth about US$80m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
What Might The Insider Transactions At Alta Equipment Group Tell Us?
The fact that there have been no Alta Equipment Group insider transactions recently certainly doesn't bother us. On a brighter note, the transactions over the last year are encouraging. Insiders own shares in Alta Equipment Group and we see no evidence to suggest they are worried about the future. 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. For example - Alta Equipment Group has 2 warning signs we think you should be aware of.
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 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.
