Breon Corcoran Bought 38% More Shares In IG Group Holdings
Those following along with IG Group Holdings plc (LON:IGG) will no doubt be intrigued by the recent purchase of shares by Breon Corcoran, CEO & Executive Director of the company, who spent a stonking UK£662k on stock at an average price of UK£9.46. Not only is that a big swing, but it increased their holding size by 38%, which is definitely great to see.
IG Group Holdings Insider Transactions Over The Last Year
In fact, the recent purchase by Breon Corcoran was the biggest purchase of IG Group Holdings shares made by an insider individual in the last twelve months, according to our records. So it's clear an insider wanted to buy, at around the current price, which is UK£9.69. That means they have been optimistic about the company in the past, though they may have changed their mind. 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. In this case we're pleased to report that the insider purchases were made at close to current prices.
IG Group Holdings insiders may have bought shares in the last year, but they didn't sell any. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Check out our latest analysis for IG Group Holdings
IG Group Holdings is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying.
Does IG Group Holdings 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. I reckon it's a good sign if insiders own a significant number of shares in the company. From looking at our data, insiders own UK£3.7m worth of IG Group Holdings stock, about 0.1% of the company. We consider this fairly low insider ownership.
What Might The Insider Transactions At IG Group Holdings Tell Us?
It's certainly positive to see the recent insider purchases. We also take confidence from the longer term picture of insider transactions. 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 IG Group Holdings stock. While it's good to be aware of 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. In terms of investment risks, we've identified 1 warning sign with IG Group Holdings and understanding it should be part of your investment process.
But note: IG Group Holdings 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 of direct interests only, but not derivative transactions or indirect interests.
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