Whilst it may not be a huge deal, we thought it was good to see that the PITECO S.p.A. (BIT:PITE) Chairman of the Board of Directors, Marco Podini, recently bought €80k worth of stock, for €5.72 per share. However, we do note that it only increased their holding by 1.4%, and it wasn't a huge purchase by absolute value, either.
PITECO Insider Transactions Over The Last Year
Notably, that recent purchase by Marco Podini is the biggest insider purchase of PITECO shares that we've seen in the last year. That implies that an insider found the current price of €6.05 per share to be enticing. 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 PITECO share holders is that insiders were buying at near the current price.
In the last twelve months insiders purchased 109261 shares for €545k. On the other hand they divested 4061 shares, for €24k. In the last twelve months there was more buying than selling by PITECO insiders. The average buy price was around €4.99. It's great to see insiders putting their own cash into the company's stock, albeit at below the recent share price. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership of PITECO
Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. PITECO insiders own about €19m worth of shares. That equates to 17% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Does This Data Suggest About PITECO Insiders?
The recent insider purchases are heartening. We also take confidence from the longer term picture of insider transactions. Given that insiders also own a fair bit of PITECO we think they are probably pretty confident of a bright future. Of course, the future is what matters most. So if you are interested in PITECO, you should check out this free report on analyst forecasts for the company.
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.
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