Yahoo Finance Trade Alert: The CEO & Director Of Bytes Technology Group plc (LON:BYIT), Neil Murphy, Has Just Spent UK£169k Buying 1.2% More Shares
Investors who take an interest in Bytes Technology Group plc (LON:BYIT) should definitely note that the CEO & Director, Neil Murphy, recently paid UK£3.80 per share to buy UK£169k worth of the stock. While that's a very decent purchase to our minds, it was proportionally a bit modest, boosting their holding by just 1.2%.
See our latest analysis for Bytes Technology Group
The Last 12 Months Of Insider Transactions At Bytes Technology Group
In fact, the recent purchase by Neil Murphy was the biggest purchase of Bytes Technology Group 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 UK£4.10. Of course they may have changed their mind. But this suggests they are optimistic. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. The good news for Bytes Technology Group share holders is that insiders were buying at near the current price.
In the last twelve months Bytes Technology Group insiders were buying shares, but not selling. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
Bytes Technology 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
Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. I reckon it's a good sign if insiders own a significant number of shares in the company. Bytes Technology Group insiders own about UK£16m worth of shares. That equates to 1.7% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
What Might The Insider Transactions At Bytes Technology Group Tell Us?
It is good to see recent purchasing. We also take confidence from the longer term picture of insider transactions. Given that insiders also own a fair bit of Bytes Technology Group we think they are probably pretty confident of a bright future. Of course, the future is what matters most. So if you are interested in Bytes Technology Group, you should check out this free report on analyst forecasts for the company.
But note: Bytes Technology Group 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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