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It is usually uneventful when a single insider buys stock. However, When quite a few insiders buy shares, as it happened in Hannon Armstrong Sustainable Infrastructure Capital, Inc.'s (NYSE:HASI) case, it's fantastic news for shareholders.
While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether.
See our latest analysis for Hannon Armstrong Sustainable Infrastructure Capital
Hannon Armstrong Sustainable Infrastructure Capital Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when Executive Chairman Jeffrey Eckel bought US$293k worth of shares at a price of US$29.26 per share. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$24.92). It's very possible they regret the purchase, but it's more likely they are bullish about the company. In our view, the price an insider pays for shares is very important. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price.
While Hannon Armstrong Sustainable Infrastructure Capital insiders bought shares during the last year, they didn't sell. Their average price was about US$24.25. It's great to see insiders putting their own cash into the company's stock, albeit at below the recent share price. The chart below shows insider transactions (by companies and individuals) over the last year. 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).
Hannon Armstrong Sustainable Infrastructure Capital Insiders Bought Stock Recently
Over the last three months, we've seen significant insider buying at Hannon Armstrong Sustainable Infrastructure Capital. Overall, 10 insiders shelled out US$802k for shares in the company -- and none sold. This is a positive in our book as it implies some confidence.
Insider Ownership Of Hannon Armstrong Sustainable Infrastructure Capital
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. We usually like to see fairly high levels of insider ownership. Hannon Armstrong Sustainable Infrastructure Capital insiders own about US$41m worth of shares. That equates to 1.6% of the company. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.