Whilst it may not be a huge deal, we thought it was good to see that the Hall of Fame Resort & Entertainment Company (NASDAQ:HOFV) Chairman, Michael Crawford, recently bought US$69k worth of stock, for US$6.91 per share. That purchase might not be huge but it did increase their holding by 14%.
View our latest analysis for Hall of Fame Resort & Entertainment
The Last 12 Months Of Insider Transactions At Hall of Fame Resort & Entertainment
In fact, the recent purchase by Michael Crawford was the biggest purchase of Hall of Fame Resort & Entertainment shares made by an insider individual in the last twelve months, according to our records. So it's clear an insider wanted to buy, at around the current price, which is US$6.94. 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. If someone buys shares at well below current prices, it's a good sign on balance, but keep in mind they may no longer see value. Happily, the Hall of Fame Resort & Entertainment insiders decided to buy shares at close to current prices.
Hall of Fame Resort & Entertainment insiders may have bought shares in the last year, but they didn't sell any. Their average price was about US$8.92. I'd consider this a positive as it suggests insiders see value at around the current price. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
Hall of Fame Resort & Entertainment is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership Of Hall of Fame Resort & Entertainment
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. It appears that Hall of Fame Resort & Entertainment insiders own 35% of the company, worth about US$14m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
What Might The Insider Transactions At Hall of Fame Resort & Entertainment Tell Us?
It is good to see the recent insider purchase. And an analysis of the transactions over the last year also gives us confidence. But we don't feel the same about the fact the company is making losses. Insiders likely see value in Hall of Fame Resort & Entertainment shares, given these transactions (along with notable insider ownership of the company). So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. At Simply Wall St, we've found that Hall of Fame Resort & Entertainment has 3 warning signs (1 is potentially serious!) that deserve your attention before going any further with your analysis.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting 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.