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Trade Alert: The Executive Chairman Of 360 Capital Group Limited (ASX:TGP), Tony Pitt, Has Just Spent AU$146k Buying A Few More Shares

·3 min read

Potential 360 Capital Group Limited (ASX:TGP) shareholders may wish to note that the Executive Chairman, Tony Pitt, recently bought AU$146k worth of stock, paying AU$0.92 for each share. Although the purchase is not a big one, by either a percentage standpoint or absolute value, it can be seen as a good sign.

View our latest analysis for 360 Capital Group

360 Capital Group Insider Transactions Over The Last Year

In fact, the recent purchase by Executive Chairman Tony Pitt was not their only acquisition of 360 Capital Group shares this year. They previously made an even bigger purchase of AU$837k worth of shares at a price of AU$0.82 per share. So it's clear an insider wanted to buy, at around the current price, which is AU$0.84. 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 360 Capital Group share holders is that insiders were buying at near the current price.

In the last twelve months 360 Capital Group insiders were buying shares, but not selling. You can see the insider transactions (by companies and individuals) 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!

insider-trading-volume
insider-trading-volume

360 Capital Group 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.

Does 360 Capital Group Boast High Insider Ownership?

Many investors like to check how much of a company is owned by 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 360 Capital Group insiders own 32% of the company, worth about AU$58m. 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 Do The 360 Capital Group Insider Transactions Indicate?

It's certainly positive to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. Given that insiders also own a fair bit of 360 Capital Group we think they are probably pretty confident of a bright future. 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, 360 Capital Group has 3 warning signs (and 2 which don't sit too well with us) we think you should know about.

But note: 360 Capital Group 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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

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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