We often see insiders buying up shares in companies that perform well over the long term. On the other hand, we'd be remiss not to mention that insider sales have been known to precede tough periods for a business. So we'll take a look at whether insiders have been buying or selling shares in Taubman Centers, Inc. (NYSE:TCO).
Do Insider Transactions Matter?
Most investors know that it is quite permissible for company leaders, such as directors of the board, to buy and sell stock in the company. However, such insiders must disclose their trading activities, and not trade on inside information.
Insider transactions are not the most important thing when it comes to long-term investing. But logic dictates you should pay some attention to whether insiders are buying or selling shares. For example, a Harvard Universitystudyfound that 'insider purchases earn abnormal returns of more than 6% per year.
Check out our latest analysis for Taubman Centers
Taubman Centers Insider Transactions Over The Last Year
Independent Director Michael Embler made the biggest insider purchase in the last 12 months. That single transaction was for US$196k worth of shares at a price of US$39.11 each. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$31.39). Their view may have changed since then, but at least it shows they felt optimistic at the time. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
While Taubman Centers insiders bought shares last year, they didn't sell. The average buy price was around US$43.92. I'd consider this a positive as it suggests insiders see value at around the current price. You can see the insider transactions (by individuals) over the last year depicted in the chart below. 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).
Insider Ownership
Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that Taubman Centers insiders own 1.9% of the company, worth about US$54m. 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 Taubman Centers Tell Us?
There haven't been any insider transactions in the last three months -- that doesn't mean much. However, our analysis of transactions over the last year is heartening. Insiders own shares in Taubman Centers and we see no evidence to suggest they are worried about the future. If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
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 ateditorial-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.
我們經常看到內部人士買入長期表現良好的公司股票。另一方面,我們的疏忽,更不用説內幕交易已經被認為是在一個企業的艱難時期之前。因此,我們將看看內部人士是否一直在買賣Taubman Center,Inc.的股票。(紐約證券交易所代碼:TCO)。
內幕交易重要嗎?
大多數投資者都知道,公司領導人,如董事會董事,可以買賣公司的股票。然而,這些內部人士必須披露他們的交易活動,而不是根據內幕信息進行交易。
在長期投資方面,內幕交易並不是最重要的事情。但根據邏輯,你應該注意內部人士是在買賣股票。例如,哈佛大學的一項研究發現,“內幕交易每年獲得超過6%的不正常回報。”
請看我們對託布曼中心的最新分析。
Taubman中心去年的內幕交易
獨立董事邁克爾·埃布勒在過去12個月裏進行了規模最大的內幕交易。這一筆交易價值19.6萬美元,每股39.11美元。因此,很明顯,一名內部人士想要購買,即使價格高於目前的股價(31.39美元)。自那以後,他們的觀點可能發生了變化,但至少表明當時他們感到樂觀。在購買股票時,我們總是注意到內部人士支付的價格。如果他們支付的價格高於目前的價格,這通常會更加鼓舞人心,因為這表明他們看到了價值,即便是在更高的水平上。
雖然陶布曼中心的內部人士去年買進了股票,但他們沒有賣出。平均買入價格在43.92美元左右。我認為這是一個積極的因素,因為這表明內部人士認為目前的價格是有價值的。你可以看到過去一年的內幕交易(由個人進行),如下圖所示。如果你點擊圖表,你可以看到所有的個別交易,包括股價,個人和日期!
內部人士購買的股票總是很多。所以,如果這適合你的風格,你可以一個一個地檢查每一隻股票,或者你可以看看這個自由的公司名單。(提示:內部人士一直在購買)。
內部人所有權
許多投資者喜歡檢查一家公司有多少股份是由內部人士擁有的。我認為,如果內部人士持有該公司大量股份,這是一個好兆頭。看來,陶布曼中心的內部人士擁有該公司1.9%的股份,價值約5400萬美元。這種程度的內部人所有權是好的,但還不算特別突出。這確實表明了一個合理的一致程度。
Taubman中心的內幕交易能告訴我們什麼?
在過去的三個月裏沒有發生過任何內幕交易--這並不意味着什麼。然而,我們對過去一年交易的分析是令人振奮的。內部人士持有陶布曼中心(TaubmanCenter)的股票,我們沒有看到任何證據表明他們對未來感到擔憂。如果你和我一樣,你可能會想一想這家公司是會成長還是萎縮。幸運的是,您可以查看這份免費報告,顯示分析師對其未來的預測。
如果你想去看看另一家公司--一家有着潛在優越財務狀況的公司--那就不要錯過這份有趣的公司名單,這些公司的股本回報率很高,債務也很低。
就本文而言,內部人是指向相關監管機構報告其交易的個人。我們目前考慮的是公開市場交易和私人處置,而不是衍生交易。
如果你發現一個值得糾正的錯誤,請聯繫編輯-Team@simplyWallst.com。這篇文章簡單地説是華爾街的,本質上是一般性的。它不構成買賣任何股票的建議,也不考慮你的目標,或你的財務狀況。簡單地説,華爾街在提到的股票中沒有立場。
我們的目標是為您帶來由基礎數據驅動的長期重點研究分析。請注意,我們的分析可能不考慮最新的價格敏感的公司公告或定性材料。感謝您的閲讀。