Yahoo Finance Michael Lombardi Just Bought 14% More Shares In Magyar Bancorp, Inc. (NASDAQ:MGYR)
Investors who take an interest in Magyar Bancorp, Inc. (NASDAQ:MGYR) should definitely note that insider Michael Lombardi recently paid US$12.66 per share to buy US$253k worth of the stock. That's a very decent purchase to our minds and it grew their holding by a solid 14%.
View our latest analysis for Magyar Bancorp
Magyar Bancorp Insider Transactions Over The Last Year
In fact, the recent purchase by Michael Lombardi was the biggest purchase of Magyar Bancorp shares made by an insider individual in the last twelve months, according to our records. That means that an insider was happy to buy shares at around the current price of US$12.84. 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. In this case we're pleased to report that the insider bought shares at close to current prices. Michael Lombardi was the only individual insider to buy during the last year.
You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. By clicking on the graph below, you can see the precise details of each insider transaction!
Magyar Bancorp is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership Of Magyar Bancorp
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. Insiders own 10.0% of Magyar Bancorp shares, worth about US$8.6m, according to our data. Whilst better than nothing, we're not overly impressed by these holdings.
What Might The Insider Transactions At Magyar Bancorp Tell Us?
It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. On this analysis the only slight negative we see is the fairly low (overall) insider ownership; their transactions suggest that they are quite positive on Magyar Bancorp stock. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Magyar Bancorp. You'd be interested to know, that we found 1 warning sign for Magyar Bancorp and we suggest you have a look.
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.
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