Granite Ridge Resources Insiders Added US$806.0k Of Stock To Their Holdings
It is usually uneventful when a single insider buys stock. However, When quite a few insiders buy shares, as it happened in Granite Ridge Resources, Inc.'s (NYSE:GRNT) case, it's fantastic news for shareholders.
While insider transactions are not the most important thing when it comes to long-term investing, we would consider it foolish to ignore insider transactions altogether.
View our latest analysis for Granite Ridge Resources
Granite Ridge Resources Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when Director Thaddeus Darden bought US$115k worth of shares at a price of US$5.74 per share. So it's clear an insider wanted to buy, at around the current price, which is US$6.00. 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 Granite Ridge Resources share holders is that insiders were buying at near the current price.
In the last twelve months Granite Ridge Resources insiders were buying shares, but not selling. You can see a visual depiction of insider transactions (by companies and 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!
Granite Ridge Resources is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Granite Ridge Resources Insiders Bought Stock Recently
We saw some Granite Ridge Resources insider buying shares in the last three months. Co-Chairman of the Board Matthew Miller bought US$15k worth of shares in that time. It's good to see the insider buying, as well as the lack of recent sellers. But in this case the amount purchased means the recent transaction may not be very meaningful on its own.
Does Granite Ridge Resources Boast High Insider Ownership?
For a common shareholder, it is worth checking how many shares are held by company insiders. 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 appears that Granite Ridge Resources insiders own 1.7% of the company, worth about US$13m. 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 Granite Ridge Resources Insiders?
Our data shows a little insider buying, but no selling, in the last three months. Overall the buying isn't worth writing home about. But insiders have shown more of an appetite for the stock, over the last year. Insiders own shares in Granite Ridge Resources and we see no evidence to suggest they are worried about the future. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Granite Ridge Resources. At Simply Wall St, we've found that Granite Ridge Resources has 4 warning signs (2 are potentially serious!) that deserve your attention before going any further with your analysis.
Of course Granite Ridge Resources 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 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.
