Even if it's not a huge purchase, we think it was good to see that Garrett Soden, the President of Africa Energy Corp. (CVE:AFE) recently shelled out CA$63k to buy stock, at CA$0.31 per share. However, we do note that it only increased their holding by 8.0%, and it wasn't a huge purchase by absolute value, either.
View our latest analysis for Africa Energy
The Last 12 Months Of Insider Transactions At Africa Energy
In the last twelve months, the biggest single purchase by an insider was when Independent Director John Bentley bought CA$79k worth of shares at a price of CA$0.26 per share. Although we like to see insider buying, we note that this large purchase was at significantly below the recent price of CA$0.33. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.
In the last twelve months Africa Energy insiders were buying shares, but not selling. You can see a visual depiction of insider transactions (by 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 plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.
Insider Ownership
For a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It appears that Africa Energy insiders own 8.0% of the company, worth about CA$18m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Does This Data Suggest About Africa Energy Insiders?
It is good to see the recent insider purchase. And the longer term insider transactions also give us confidence. But on the other hand, the company made a loss last year, which makes us a little cautious. When combined with notable insider ownership, these factors suggest Africa Energy insiders are well aligned, and that they may think the share price is too low. Therefore, you should should definitely take a look at this FREE report showing analyst forecasts for Africa Energy.
Of course Africa Energy 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.
If you spot an error that warrants correction, please contact the editor at editorial-team@simplywallst.com. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
We aim to bring you long-term focused research analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Thank you for reading.
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The President of Africa Energy Corp. (CVE:AFE), Garrett Soden, Just Bought 8.0% More Shares - Yahoo Finance
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