Insider Spends US$493k Buying More Shares In Prairie Operating
Potential Prairie Operating Co. (NASDAQ:PROP) shareholders may wish to note that the Independent Director, Jonathan Gray, recently bought US$493k worth of stock, paying US$3.75 for each share. We reckon that's a good sign, especially since the purchase boosted their holding by 1,916%.
We've found 21 US stocks that are forecast to pay a dividend yield of over 6% next year. See the full list for free.
Notably, that recent purchase by Jonathan Gray is the biggest insider purchase of Prairie Operating shares that we've seen in the last year. So it's clear an insider wanted to buy, at around the current price, which is US$3.92. That means they have been optimistic about the company in the past, though they may have changed their mind. 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. The good news for Prairie Operating share holders is that insiders were buying at near the current price.
Happily, we note that in the last year insiders paid US$511k for 136.50k shares. But insiders sold 100.83k shares worth US$1.1m. In total, Prairie Operating insiders sold more than they bought over the last year. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!
View our latest analysis for Prairie Operating
If you are like me, then you will not want to miss this free list of small cap stocks that are not only being bought by insiders but also have attractive valuations.
Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 34% of Prairie Operating shares, worth about US$52m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
The recent insider purchases are heartening. On the other hand the transaction history, over the last year, isn't so positive. The more recent transactions are a positive, but Prairie Operating insiders haven't shown the sustained enthusiasm that we look for, although they do own a decent number of shares, overall. In short they are likely aligned with shareholders. 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. For instance, we've identified 3 warning signs for Prairie Operating (1 shouldn't be ignored) you should be aware of.
Of course Prairie Operating 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 of direct interests only, but not derivative transactions or indirect interests.
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.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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