How Many Insiders Bought Intrinsyc Technologies Corporation (TSE:ITC) Shares?
We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we’d be remiss not to mention that insider sales have been known to precede tough periods for a business. So shareholders might well want to know whether insiders have been buying or selling shares in Intrinsyc Technologies Corporation (TSE:ITC).
Do Insider Transactions Matter?
It’s quite normal to see company insiders, such as board members, trading in company stock, from time to time. However, rules govern insider transactions, and certain disclosures are required.
We don’t think shareholders should simply follow insider transactions. But logic dictates you should pay some attention to whether insiders are buying or selling shares. As Peter Lynch said, ‘insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.’
See our latest analysis for Intrinsyc Technologies
Intrinsyc Technologies Insider Transactions Over The Last Year
Independent Director Daniel Marks made the biggest insider purchase in the last 12 months. That single transaction was for CA$80k worth of shares at a price of CA$1.45 each. That means that even when the share price was higher, an insider wanted to purchase shares. It’s very possible they regret the purchase, but it’s more likely they are bullish about the company. That purchase may suggest an expectation of positive returns over the long term.
Happily, we note that in the last year insiders paid CA$199k for 138.25k shares. On the other hand they divested 42.70k shares, for CA$62k. Overall, Intrinsyc Technologies insiders were net buyers last year. The average buy price was around CA$1.44. These transactions suggest that insiders have considered the current price of CA$1.37 attractive. You can see the insider transactions 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!
There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Are Intrinsyc Technologies Insiders Buying Or Selling?
Over the last three months, we’ve seen a bit of insider buying at Intrinsyc Technologies. In that period insiders spent US$35k on shares. However, Michael Bird netted US$27k for sales. It is nice to see that insiders have bought, but the quantum isn’t large enough to get us excited.
Insider Ownership of Intrinsyc Technologies
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. Intrinsyc Technologies insiders own 7.8% of the company, currently worth about CA$2.3m based on the recent share price. 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 Intrinsyc Technologies Insiders?
Insider purchases have outweighed sales, in the last three months. But overall the difference isn’t worth writing home about. On a brighter note, the transactions over the last year are encouraging. The transactions are fine but it’d be more encouraging if Intrinsyc Technologies insiders bought more shares in the company. Of course, the future is what matters most. So if you are interested in Intrinsyc Technologies, you should check out this free report on analyst forecasts for the company.
Of course Intrinsyc Technologies may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
To help readers see past the short term volatility of the financial market, we aim to bring you a long-term focused research analysis purely driven by fundamental data. Note that our analysis does not factor in the latest price-sensitive company announcements.
The author is an independent contributor and at the time of publication had no position in the stocks mentioned. For errors that warrant correction please contact the editor at editorial-team@simplywallst.com.
