Yahoo Finance The Executive Chairman & Co-CEO of Conifer Holdings, Inc. (NASDAQ:CNFR), James Petcoff, Just Bought 29% More Shares
Those following along with Conifer Holdings, Inc. (NASDAQ:CNFR) will no doubt be intrigued by the recent purchase of shares by James Petcoff, Executive Chairman & Co-CEO of the company, who spent a stonking US$1.5m on stock at an average price of US$2.00. Not only is that a big swing, but it increased their holding size by 29%, which is definitely great to see.
Check out our latest analysis for Conifer Holdings
Conifer Holdings Insider Transactions Over The Last Year
In fact, the recent purchase by James Petcoff was the biggest purchase of Conifer Holdings shares made by an insider individual in the last twelve months, according to our records. That implies that an insider found the current price of US$2.20 per share to be enticing. That means they have been optimistic about the company in the past, though they may have changed their mind. 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. In this case we're pleased to report that the insider purchases were made at close to current prices.
In the last twelve months Conifer Holdings insiders were buying shares, but not selling. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).
Insider Ownership Of Conifer Holdings
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. Insiders own 34% of Conifer Holdings shares, worth about US$9.2m. 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 Do The Conifer Holdings Insider Transactions Indicate?
It is good to see recent purchasing. And the longer term insider transactions also give us confidence. But we don't feel the same about the fact the company is making losses. Given that insiders also own a fair bit of Conifer Holdings we think they are probably pretty confident of a bright future. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. To help with this, we've discovered 4 warning signs (1 makes us a bit uncomfortable!) that you ought to be aware of before buying any shares in Conifer Holdings.
But note: Conifer Holdings 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.
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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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