Yahoo Finance Kenneth Langone Bought 6.0% More Shares In Unifi
Unifi, Inc. (NYSE:UFI) shareholders (or potential shareholders) will be happy to see that the Independent Director, Kenneth Langone, recently bought a whopping US$643k worth of stock, at a price of US$6.43. There's no denying a buy of that magnitude suggests conviction in a brighter future, although we do note that proportionally it only increased their holding by 6.0%.
View our latest analysis for Unifi
The Last 12 Months Of Insider Transactions At Unifi
In fact, the recent purchase by Independent Director Kenneth Langone was not their only acquisition of Unifi shares this year. They previously made an even bigger purchase of US$709k worth of shares at a price of US$7.09 per share. That means that an insider was happy to buy shares at around the current price of US$7.10. Of course they may have changed their mind. But this suggests they are optimistic. 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. The good news for Unifi share holders is that insiders were buying at near the current price.
In the last twelve months insiders purchased 275.50k shares for US$1.9m. But insiders sold 50.00k shares worth US$408k. Overall, Unifi insiders were net buyers during the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
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 Unifi
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. 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 11% of Unifi shares, worth about US$14m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Do The Unifi Insider Transactions Indicate?
The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. 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 Unifi insiders are well aligned, and that they may think the share price is too low. Therefore, you should definitely take a look at this FREE report showing analyst forecasts for Unifi.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity 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.
