NICO Resources Non-Executive Director Roderick Corps Sells 33% Of Holding
Anyone interested in NICO Resources Limited (ASX:NC1) should probably be aware that the Non-Executive Director, Roderick Corps, recently divested AU$188k worth of shares in the company, at an average price of AU$0.063 each. The eyebrow raising move amounted to a reduction of 33% in their holding.
NICO Resources Insider Transactions Over The Last Year
In fact, the recent sale by Non-Executive Director Roderick Corps was not their only sale of NICO Resources shares this year. Earlier in the year, they fetched AU$0.28 per share in a -AU$666k sale. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. It's of some comfort that this sale was conducted at a price well above the current share price, which is AU$0.073. So it is hard to draw any strong conclusion from it.
Happily, we note that in the last year insiders paid AU$219k for 2.80m shares. But insiders sold 7.17m shares worth AU$995k. Roderick Corps ditched 7.17m shares over the year. The average price per share was AU$0.14. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
View our latest analysis for NICO Resources
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Insider Ownership
For a common shareholder, it is worth checking how many shares are held by company insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. NICO Resources insiders own about AU$2.8m worth of shares. That equates to 35% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Does This Data Suggest About NICO Resources Insiders?
We note that there's been a little more insider selling than buying, recently. But the difference isn't enough to have us worried. Recent insider selling makes us a little nervous, in light of the broader picture of NICO Resources insider transactions. The modest level of insider ownership is, at least, some comfort. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing NICO Resources. You'd be interested to know, that we found 4 warning signs for NICO Resources and we suggest you have a look.
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 of direct interests only, but not derivative transactions or indirect interests.
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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.