Yahoo Finance Anton Mayer Just Bought 13% More Shares In Magna International Inc. (TSE:MG)
Whilst it may not be a huge deal, we thought it was good to see that Anton Mayer, who is a company insider, recently bought CA$72k worth of stock, for CA$98.41 per share. That purchase might not be huge but it did increase their holding by 13%.
Check out our latest analysis for Magna International
Magna International Insider Transactions Over The Last Year
Notably, that recent purchase by insider Anton Mayer was not the only time they bought Magna International shares this year. They previously made an even bigger purchase of CA$75k worth of shares at a price of CA$99.67 per share. That means that even when the share price was higher than CA$98.91 (the recent price), an insider wanted to purchase shares. Their view may have changed since then, but at least it shows they felt optimistic at the time. To us, it's very important to consider the price insiders pay for shares. Generally speaking, it catches our eye when an insider has purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. Anton Mayer was the only individual insider to buy shares in the last twelve months.
Anton Mayer purchased 1.72k shares over the year. The average price per share was CA$101. 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!
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).
Does Magna International Boast High 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. We usually like to see fairly high levels of insider ownership. Magna International insiders own about CA$124m worth of shares. That equates to 0.4% of the company. 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 Magna International Insider Transactions Indicate?
It's certainly positive to see the recent insider purchase. We also take confidence from the longer term picture of insider transactions. Along with the high insider ownership, this analysis suggests that insiders are quite bullish about Magna International. Nice! Of course, the future is what matters most. So if you are interested in Magna International, you should check out this free report on analyst forecasts for the company.
But note: Magna International 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.
