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Insider Buying: The Sparebanken Møre (OB:MORG) Chairman of Board of Directors Just Bought kr3.3m Worth Of Shares

Simply Wall St

Potential Sparebanken Møre (OB:MORG) shareholders may wish to note that the Chairman of Board of Directors, Leif-Arne Langøy, recently bought kr3.3m worth of stock, paying kr328 for each share. Although the purchase only increased their holding by 8.8%, it is still a solid purchase in our view.

See our latest analysis for Sparebanken Møre

Sparebanken Møre Insider Transactions Over The Last Year

In fact, the recent purchase by Leif-Arne Langøy was the biggest purchase of Sparebanken Møre shares made by an insider individual in the last twelve months, according to our records. So it's clear an insider wanted to buy, even at a higher price than the current share price (being kr323). Their view may have changed since then, but at least it shows they felt optimistic at the time. In our view, the price an insider pays for shares is very important. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.

While Sparebanken Møre insiders bought shares last year, they didn't sell. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!

OB:MORG Recent Insider Trading, January 31st 2020

Sparebanken Møre 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.

Insider Ownership

Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 2.8% of Sparebanken Møre shares, worth about kr89m, according to our data. We do note, however, it is possible insiders have an indirect interest through a private company or other corporate structure. Whilst better than nothing, we're not overly impressed by these holdings.

So What Does This Data Suggest About Sparebanken Møre Insiders?

It's certainly positive to see the recent insider purchase. And the longer term insider transactions also give us confidence. When combined with notable insider ownership, these factors suggest Sparebanken Møre insiders are well aligned, and that they may think the share price is too low. Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for Sparebanken Møre.

But note: Sparebanken Møre may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE 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.

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.