Wayne Myles Bought 18% More Shares In Nova Leap Health \
Even if it's not a huge purchase, we think it was good to see that Wayne Myles, the Independent Director of Nova Leap Health Corp. (CVE:NLH) recently shelled out CA$99k to buy stock, at CA$0.19 per share. That purchase might not be huge but it did increase their holding by 18%.
See our latest analysis for Nova Leap Health
The Last 12 Months Of Insider Transactions At Nova Leap Health
In the last twelve months, the biggest single purchase by an insider was when insider Norman Fulcher bought CA$1.7m worth of shares at a price of CA$0.35 per share. So it's clear an insider wanted to buy, even at a higher price than the current share price (being CA$0.20). 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.
Nova Leap Health insiders may have bought shares in the last year, but they didn't sell any. 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!
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.
Does Nova Leap Health 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. We usually like to see fairly high levels of insider ownership. It appears that Nova Leap Health insiders own 39% of the company, worth about CA$6.8m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.
What Might The Insider Transactions At Nova Leap Health Tell Us?
The recent insider purchases are heartening. And the longer term insider transactions also give us confidence. But on the other hand, the company made a loss during the last year, which makes us a little cautious. When combined with notable insider ownership, these factors suggest Nova Leap Health insiders are well aligned, and that they may think the share price is too low. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Nova Leap Health. Case in point: We've spotted 2 warning signs for Nova Leap Health you should be aware of.
Of course Nova Leap Health 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.
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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.
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