Raymond Hyer Just Bought 9.0% More Shares In Heritage Insurance Holdings, Inc. (NYSE:HRTG)
Potential Heritage Insurance Holdings, Inc. (NYSE:HRTG) shareholders may wish to note that insider Raymond Hyer recently bought US$317k worth of stock, paying US$1.38 for each share. While that's a very decent purchase to our minds, it was proportionally a bit modest, boosting their holding by just 9.0%.
Check out our latest analysis for Heritage Insurance Holdings
Heritage Insurance Holdings Insider Transactions Over The Last Year
Notably, that recent purchase by Raymond Hyer is the biggest insider purchase of Heritage Insurance Holdings shares that we've seen in the last year. That means that an insider was happy to buy shares at around the current price of US$1.42. That means they have been optimistic about the company in the past, though they may have changed their mind. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. The good news for Heritage Insurance Holdings share holders is that insiders were buying at near the current price.
While Heritage Insurance Holdings insiders bought shares during the last year, they didn't sell. Their average price was about US$1.55. These transactions suggest that insiders have considered the current price attractive. The chart below shows insider transactions (by companies and individuals) over the last year. 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. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. Heritage Insurance Holdings insiders own about US$8.1m worth of shares. That equates to 22% of the company. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Does This Data Suggest About Heritage Insurance Holdings Insiders?
The recent insider purchase is heartening. And an analysis of the transactions over the last year also gives us confidence. But we don't feel the same about the fact the company is making losses. Insiders likely see value in Heritage Insurance Holdings shares, given these transactions (along with notable insider ownership of the company). So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. For example, Heritage Insurance Holdings has 3 warning signs (and 2 which can't be ignored) we think you should know about.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity 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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