Bullish Gray Television, Inc. (NYSE:GTN) investors are yet to receive a pay off on their US$818k bet
The recent price decline of 8.8% in Gray Television, Inc.'s (NYSE:GTN) stock may have disappointed insiders who bought US$818k worth of shares at an average price of US$15.38 in the past 12 months. Insiders invest with the hopes of seeing their money grow in value over time. However, as a result of recent losses, their initial investment is now only worth US$401k, which is not what they expected.
While insider transactions are not the most important thing when it comes to long-term investing, logic dictates you should pay some attention to whether insiders are buying or selling shares.
Check out our latest analysis for Gray Television
Gray Television Insider Transactions Over The Last Year
Over the last year, we can see that the biggest insider purchase was by Director Emeritus Harriett Robinson for US$630k worth of shares, at about US$18.00 per share. That means that even when the share price was higher than US$7.53 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. To us, it's very important to consider the price insiders pay for shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
In the last twelve months insiders purchased 53.20k shares for US$818k. But insiders sold 17.47k shares worth US$352k. In the last twelve months there was more buying than selling by Gray Television insiders. Their average price was about US$15.38. These transactions suggest that insiders have considered the current price attractive. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
Gray Television 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 Gray Television
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. It appears that Gray Television insiders own 12% of the company, worth about US$84m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
So What Does This Data Suggest About Gray Television Insiders?
There haven't been any insider transactions in the last three months -- that doesn't mean much. On a brighter note, the transactions over the last year are encouraging. Insiders do have a stake in Gray Television and their transactions don't cause us concern. 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. To that end, you should learn about the 3 warning signs we've spotted with Gray Television (including 2 which don't sit too well with us).
Of course Gray Television may not be the best stock to buy. So you may wish to see this free collection of high quality 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.
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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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