Yahoo Finance Linda Southern-Heathcott Is The Executive Chair & CEO of AKITA Drilling Ltd. (TSE:AKT.A) And They Just Picked Up 4,935% More Shares
AKITA Drilling Ltd. (TSE:AKT.A) shareholders (or potential shareholders) will be happy to see that the Executive Chair & CEO, Linda Southern-Heathcott, recently bought a whopping CA$2.4m worth of stock, at a price of CA$1.50. That increased their holding by a full 4,935%, which arguably implies the sort of confidence required for a shy sweet-natured nerd to ask the most popular kid in the school to go out on a date.
Check out our latest analysis for AKITA Drilling
The Last 12 Months Of Insider Transactions At AKITA Drilling
Notably, that recent purchase by Linda Southern-Heathcott is the biggest insider purchase of AKITA Drilling shares that we've seen in the last year. Even though the purchase was made at a significantly lower price than the recent price (CA$1.83), we still think insider buying is a positive. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices.
AKITA Drilling insiders may have bought shares in the last year, but they didn't sell any. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
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 AKITA Drilling
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 5.4% of AKITA Drilling shares, worth about CA$4.0m, according to our data. We do note, however, it is possible insiders have an indirect interest through a private company or other corporate structure. Whilst better than nothing, we're not overly impressed by these holdings.
So What Does This Data Suggest About AKITA Drilling Insiders?
The recent insider purchase is heartening. We also take confidence from the longer term picture of insider transactions. But on the other hand, the company made a loss during the last year, which makes us a little cautious. We would certainly prefer see higher levels of insider ownership but analysis of the insider transactions suggests that AKITA Drilling insiders are expecting a bright future. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing AKITA Drilling. In terms of investment risks, we've identified 3 warning signs with AKITA Drilling and understanding them should be part of your investment process.
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.
