Yahoo Finance Favourable Signals For Mayne Pharma Group: Numerous Insiders Acquired Stock
It is usually uneventful when a single insider buys stock. However, When quite a few insiders buy shares, as it happened in Mayne Pharma Group Limited's (ASX:MYX) case, it's fantastic news for shareholders.
While insider transactions are not the most important thing when it comes to long-term investing, we would consider it foolish to ignore insider transactions altogether.
Check out our latest analysis for Mayne Pharma Group
The Last 12 Months Of Insider Transactions At Mayne Pharma Group
In the last twelve months, the biggest single purchase by an insider was when CEO, MD & Director Shawn O’Brien bought AU$141k worth of shares at a price of AU$3.80 per share. Even though the purchase was made at a significantly lower price than the recent price (AU$6.66), we still think insider buying is a positive. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.
While Mayne Pharma Group insiders bought shares during the last year, they didn't sell. 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!
Mayne Pharma 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 Of Mayne Pharma Group
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. It appears that Mayne Pharma Group insiders own 10% of the company, worth about AU$56m. 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 Mayne Pharma Group Insider Transactions Indicate?
The fact that there have been no Mayne Pharma Group insider transactions recently certainly doesn't bother us. But insiders have shown more of an appetite for the stock, over the last year. Overall we don't see anything to make us think Mayne Pharma Group insiders are doubting the company, and they do own shares. Therefore, you should definitely take a look at this FREE report showing analyst forecasts for Mayne Pharma Group.
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 of direct interests only, but not derivative transactions or indirect interests.
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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.
