CFO, Company Secretary & Executive Director Wong Voon Sam Yue Just Bought 7.9% More Shares In Gas2Grid Limited (ASX:GGX)
Those following along with Gas2Grid Limited (ASX:GGX) will no doubt be intrigued by the recent purchase of shares by Wong Voon Sam Yue, CFO, Company Secretary & Executive Director of the company, who spent a stonking AU$93m on stock at an average price of AU$3.00. There's no denying a buy of that magnitude suggests conviction in a brighter future, although we do note that proportionally it only increased their holding by 7.9%.
See our latest analysis for Gas2Grid
The Last 12 Months Of Insider Transactions At Gas2Grid
Notably, that recent purchase by Wong Voon Sam Yue is the biggest insider purchase of Gas2Grid shares that we've seen in the last year. That means that an insider was happy to buy shares at above the current price of AU$0.003. 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 encouraging to see an insider paid above the current price for shares, as it suggests they saw value, even at higher levels. Wong Voon Sam Yue was the only individual insider to buy during the last year. We note that Wong Voon Sam Yue was also the biggest seller.
Wong Voon Sam Yue bought 318.59m shares over the last 12 months at an average price of AU$0.29. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Gas2Grid 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 Gas2Grid 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. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It's great to see that Gas2Grid insiders own 42% of the company, worth about AU$5.2m. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.
So What Does This Data Suggest About Gas2Grid Insiders?
It is good to see the recent insider purchase. And an analysis of the transactions over the last year also gives us confidence. But we don't feel the same about the fact the company is making losses. Once you factor in the high insider ownership, it certainly seems like insiders are positive about Gas2Grid. Looks promising! 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 help with this, we've discovered 5 warning signs (4 are significant!) that you ought to be aware of before buying any shares in Gas2Grid.
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.
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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.
