Independent Chairman of Boyd Group Services Picks Up 148% More Stock
Those following along with Boyd Group Services Inc. (TSE:BYD) will no doubt be intrigued by the recent purchase of shares by David Brown, Independent Chairman of the company, who spent a stonking CA$997k on stock at an average price of CA$126. That increased their holding by a full 148%, 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.
Boyd Group Services Insider Transactions Over The Last Year
Notably, that recent purchase by David Brown is the biggest insider purchase of Boyd Group Services shares that we've seen in the last year. That means that even when the share price was higher than CA$116 (the recent price), an insider wanted to purchase shares. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. To us, it's very important to consider the price insiders pay for shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
In the last twelve months Boyd Group Services insiders were buying shares, but not selling. The average buy price was around CA$160. This is nice to see since it implies that insiders might see value around current prices. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
See our latest analysis for Boyd Group Services
Boyd Group Services is not the only stock that insiders are buying. For those who like to find small cap companies at attractive valuations, this free list of growing companies with recent insider purchasing, could be just the ticket.
Does Boyd Group Services Boast High Insider Ownership?
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. Our data suggests Boyd Group Services insiders own 0.2% of the company, worth about CA$6.2m. I generally like to see higher levels of ownership.
So What Does This Data Suggest About Boyd Group Services Insiders?
It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. While the overall levels of insider ownership are below what we'd like to see, the history of transactions imply that Boyd Group Services insiders are reasonably well aligned, and optimistic for the future. 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. To that end, you should learn about the 3 warning signs we've spotted with Boyd Group Services (including 1 which shouldn't be ignored).
Of course Boyd Group Services 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 of direct interests only, but not derivative transactions or indirect interests.
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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.