Yahoo Finance Independent Non-Executive Director Simon Mottram Just Bought 200% More Shares In Ten Sixty Four Limited (ASX:X64)
Even if it's not a huge purchase, we think it was good to see that Simon Mottram, the Independent Non-Executive Director of Ten Sixty Four Limited (ASX:X64) recently shelled out AU$128k to buy stock, at AU$0.64 per share. Even though that isn't a massive buy, it did increase their holding by 200%, which is arguably a good sign.
View our latest analysis for Ten Sixty Four
Ten Sixty Four Insider Transactions Over The Last Year
Notably, that recent purchase by Simon Mottram is the biggest insider purchase of Ten Sixty Four shares that we've seen in the last year. That implies that an insider found the current price of AU$0.66 per share to be enticing. That means they have been optimistic about the company in the past, though they may have changed their mind. 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 Ten Sixty Four share holders is that insiders were buying at near the current price.
In the last twelve months Ten Sixty Four insiders were buying shares, but not selling. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
Ten Sixty Four 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.
Does Ten Sixty Four Boast High Insider Ownership?
For a common shareholder, it is worth checking how many shares are held by company insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. From our data, it seems that Ten Sixty Four insiders own 5.1% of the company, worth about AU$7.6m. However, it's possible that insiders might have an indirect interest through a more complex structure. Whilst better than nothing, we're not overly impressed by these holdings.
So What Does This Data Suggest About Ten Sixty Four Insiders?
The recent insider purchases are heartening. We also take confidence from the longer term picture of insider transactions. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that Ten Sixty Four insiders are expecting a bright future. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. Every company has risks, and we've spotted 5 warning signs for Ten Sixty Four (of which 1 makes us a bit uncomfortable!) you should know about.
Of course Ten Sixty Four may not be the best stock to buy. So you may wish to see this free collection of high quality 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, but not derivative transactions.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
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.
Join A Paid User Research Session
You’ll receive a US$30 Amazon Gift card for 1 hour of your time while helping us build better investing tools for the individual investors like yourself. Sign up here
