Raymond Hyer of Heritage Insurance Holdings, Inc. (NYSE:HRTG) Just Spent US$397k On Shares
Potential Heritage Insurance Holdings, Inc. (NYSE:HRTG) shareholders may wish to note that insider Raymond Hyer recently bought US$397k worth of stock, paying US$1.96 for each share. While that's a very decent purchase to our minds, it was proportionally a bit modest, boosting their holding by just 6.6%.
View our latest analysis for Heritage Insurance Holdings
The Last 12 Months Of Insider Transactions At Heritage Insurance Holdings
In fact, the recent purchase by Raymond Hyer was the biggest purchase of Heritage Insurance Holdings shares made by an insider individual in the last twelve months, according to our records. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of US$2.27. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.
In the last twelve months Heritage Insurance Holdings insiders were buying shares, but not selling. The average buy price was around US$1.57. We don't deny that it is nice to see insiders buying stock in the company. But we must note that the investments were made at well below today's share price. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, 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.
Does Heritage Insurance Holdings Boast High Insider Ownership?
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Heritage Insurance Holdings insiders own about US$14m worth of shares. That equates to 25% of the company. 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 Heritage Insurance Holdings Insiders?
It is good to see recent purchasing. And the longer term insider transactions also give us confidence. But we don't feel the same about the fact the company is making losses. When combined with notable insider ownership, these factors suggest Heritage Insurance Holdings insiders are well aligned, and that they may think the share price is too low. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Case in point: We've spotted 2 warning signs for Heritage Insurance Holdings you should be aware of.
But note: Heritage Insurance Holdings 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.
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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.
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