Trade Alert: Michael Gentile At Group Eleven Resources Corp. (CVE:ZNG), Has Just Spent CA$362k Buying 13% More Shares
Potential Group Eleven Resources Corp. (CVE:ZNG) shareholders may wish to note that insider Michael Gentile recently bought CA$362k worth of stock, paying CA$0.12 for each share. That's a very decent purchase to our minds and it grew their holding by a solid 13%.
View our latest analysis for Group Eleven Resources
The Last 12 Months Of Insider Transactions At Group Eleven Resources
Notably, that recent purchase by Michael Gentile is the biggest insider purchase of Group Eleven Resources shares that we've seen in the last year. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of CA$0.14. 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.
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!
Group Eleven Resources is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership of Group Eleven Resources
Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. Group Eleven Resources insiders own about CA$4.1m worth of shares. That equates to 22% 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 Do The Group Eleven Resources 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. However, we note that the company didn't make a profit over the last twelve months, which makes us cautious. When combined with notable insider ownership, these factors suggest Group Eleven Resources insiders are well aligned, and that they may think the share price is too low. 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, Group Eleven Resources has 4 warning signs (and 2 which are significant) we think you should know about.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
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.
