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The Executive Chairman of Aegean Airlines S.A. (ATH:AEGN), Eftichios Vassilakis, Just Bought More Shares

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Simply Wall St
·3 min read
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Whilst it may not be a huge deal, we thought it was good to see that the Aegean Airlines S.A. ( ATH:AEGN ) Executive Chairman, Eftichios Vassilakis, recently bought €56k worth of stock, for €4.10 per share. Although the purchase is not a big one, increasing the direct shareholding by only 1.2%, it can be interpreted as a good sign.

Check out our latest analysis for Aegean Airlines

Aegean Airlines Insider Transactions Over The Last Year

Notably, that recent purchase by Executive Chairman Eftichios Vassilakis was not the only time they bought Aegean Airlines shares this year. They previously made an even bigger purchase of €123k worth of shares at a price of €8.19 per share. That means that even when the share price was higher than €4.45 (the recent price), an insider wanted to purchase shares. 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. In our view, the price an insider pays for shares is very important. As a general rule, we feel more positive about a stock when an insider has bought shares at above current prices, because that suggests they viewed the stock as good value, even at a higher price. The only individual insider to buy over the last year was Eftichios Vassilakis.

Eftichios Vassilakis purchased 28.80k shares over the year. The average price per share was €6.23. You can see the insider transactions (by individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!

ATSE:AEGN Recent Insider Trading May 11th 2020
ATSE:AEGN Recent Insider Trading May 11th 2020

Aegean Airlines 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 Aegean Airlines 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. I reckon it's a good sign if insiders own a significant number of shares in the company. Insiders own 7.1% of Aegean Airlines shares, worth about €23m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders. We have also been informed by Investor Relations Officer Anthi Katelani that Eftichios Vassilakis also holds a 24.18% stake indirectly through Evertrans and an 11.66% stake indirectly through Autohellas.

So What Does This Data Suggest About Aegean Airlines Insiders?

It is good to see the recent insider purchase. And an analysis of the transactions over the last year also gives us confidence. Given that insiders also own a fair bit of Aegean Airlines we think they are probably pretty confident of a bright future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. At Simply Wall St, we've found that Aegean Airlines has 4 warning signs (1 makes us a bit uncomfortable!) that deserve your attention before going any further with your analysis.

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.

If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com . 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. Simply Wall St has no position in the stocks mentioned.

We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.