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When a single insider purchases stock, it is typically not a major deal. However, when multiple insiders purchase stock, like in Ensign Energy Services Inc.'s (TSE:ESI) instance, it's good news for shareholders.
While insider transactions are not the most important thing when it comes to long-term investing, we do think it is perfectly logical to keep tabs on what insiders are doing.
Check out our latest analysis for Ensign Energy Services
Ensign Energy Services Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when President Robert Geddes bought CA$146k worth of shares at a price of CA$2.90 per share. So it's clear an insider wanted to buy, at around the current price, which is CA$2.97. 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. While we always like to see insider buying, it's less meaningful if the purchases were made at much lower prices, as the opportunity they saw may have passed. The good news for Ensign Energy Services share holders is that insiders were buying at near the current price.
In the last twelve months insiders purchased 130.09k shares for CA$352k. But insiders sold 60.00k shares worth CA$175k. Overall, Ensign Energy Services insiders were net buyers during the last year. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
Ensign Energy 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.
Insiders At Ensign Energy Services Have Bought Stock Recently
At Ensign Energy Services,over the last quarter, we have observed quite a lot more insider buying than insider selling. In fact, three insiders bought CA$211k worth of shares. On the other hand, Executive Vice President of International Operations Brent Conway netted CA$100k by selling. Insiders have spent more buying shares than they have selling, so on balance we think they are are probably optimistic.
Insider Ownership Of Ensign Energy Services
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. Ensign Energy Services insiders own about CA$150m worth of shares (which is 27% of the company). Most shareholders would be happy to see this sort of insider ownership, since it suggests that management incentives are well aligned with other shareholders.