Yahoo Finance Have Covenant Transportation Group, Inc. (NASDAQ:CVTI) Insiders Been Selling Their Stock?
Investors may wish to note that the Executive VP & COO of Star Transportation Inc. of Covenant Transportation Group, Inc., James Brower, recently netted US$93k from selling stock, receiving an average price of US$15.58. However we note that the sale only shrunk their holding by 9.3%.
Check out our latest analysis for Covenant Transportation Group
Covenant Transportation Group Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when Executive VP & COO of Landair Holdings Inc. John Tweed bought US$440k worth of shares at a price of US$23.61 per share. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$15.62). It's very possible they regret the purchase, but it's more likely they are bullish about the company. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
Happily, we note that in the last year insiders paid US$515k for 23659 shares. But insiders sold 6000 shares worth US$93k. In total, Covenant Transportation Group insiders bought more than they sold over the last year. You can see the insider transactions (by individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Covenant Transportation Group is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
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. I reckon it's a good sign if insiders own a significant number of shares in the company. Covenant Transportation Group insiders own about US$93m worth of shares. That equates to 32% 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.
What Might The Insider Transactions At Covenant Transportation Group Tell Us?
An insider hasn't bought Covenant Transportation Group stock in the last three months, but there was some selling. On the other hand, the insider transactions over the last year are encouraging. And insiders do own shares. So the recent selling doesn't worry us too much. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
Of course Covenant Transportation Group 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.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned. Thank you for reading.
