Trade Alert: The Senior Vice President of Operations North America & Africa Of Major Drilling Group International Inc. (TSE:MDI), Kelly Johnson, Has Just Spent CA$79k Buying 63% More Shares
Whilst it may not be a huge deal, we thought it was good to see that the Major Drilling Group International Inc. (TSE:MDI) Senior Vice President of Operations North America & Africa, Kelly Johnson, recently bought CA$79k worth of stock, for CA$7.87 per share. Even though that isn't a massive buy, it did increase their holding by 63%, which is arguably a good sign.
View our latest analysis for Major Drilling Group International
The Last 12 Months Of Insider Transactions At Major Drilling Group International
Notably, that recent purchase by Kelly Johnson is the biggest insider purchase of Major Drilling Group International shares that we've seen in the last year. So it's clear an insider wanted to buy, at around the current price, which is CA$8.44. 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. Happily, the Major Drilling Group International insiders decided to buy shares at close to current prices.
Over the last year, we can see that insiders have bought 35.90k shares worth CA$300k. But they sold 6.54k shares for CA$78k. In total, Major Drilling Group International insiders bought more than they sold over the last year. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
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 Major Drilling Group International Boast High Insider Ownership?
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. Our data suggests Major Drilling Group International insiders own 0.8% of the company, worth about CA$5.6m. We prefer to see high levels of insider ownership.
What Might The Insider Transactions At Major Drilling Group International Tell Us?
It is good to see recent purchasing. And the longer term insider transactions also give us confidence. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that Major Drilling Group International insiders are expecting a bright future. Of course, the future is what matters most. So if you are interested in Major Drilling Group International, you should check out this free report on analyst forecasts for the company.
Of course Major Drilling Group International may not be the best stock to buy. So you may wish to see this free collection of high quality 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.
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