If multiple insiders within a single organization are concurrently purchasing the company stock, it is advisable to delve deeper into this situation. This buying pattern referred to as “cluster buying,” is a notably robust trading signal.
In this article, we are going to highlight cluster buying at Kinovo PLC (KINO:LN). Kinovo is a UK-based specialist property services Group that delivers compliance and sustainability solutions. The company is listed on the London Stock Exchange and boasts a market cap of around £33.59 million.
Our data shows that on September 22, five insiders at Kinovo PLC purchased stock. Those who bought shares were:
CEO David Bullen (19,047 shares @ 52.5 GBX per share)
COO Lee Venables (18,903 shares @ 52.9 GBX per share)
CEO (Subsidiary) Neil Rooney (48,000 shares @ 52.0 GBX per share)
Chairman Sangita Shah (19,048 shares @ 52.5 GBX per share)
Finance Director Debbie Rooney (27,348 shares @ 54.8 GBX per share)
Combined the insiders invested around $86,000 in company stock.
Insider Track Record:
This insider activity is worth highlighting for several reasons.
Firstly, all five insiders have made whopping investments that have significantly raised their holdings. Our Insider Model views this buying activity as quite bullish.
David Bullen, CEO since April 2019, possesses a track record of creating shareholder value. This includes a four-fold share price increase during his time as Anpario's CEO.
Sangita Shah, the non-executive Chair, boasts extensive corporate finance and consultancy experience. She's a qualified accountant and has held senior roles at Unilever, Mars, Ernst & Young, and KPMG. Her diverse background and leadership roles in various organizations make her a valuable addition to Kinovo's board.
Strong Growth and Resilience in Challenging Times
Looking ahead, Kinovo is poised for continued success, with revenue forecasted to grow at an average rate of 9.9% per annum over the next two years. This growth surpasses the 9.3% forecast for the Commercial Services industry in the United Kingdom. In the midst of these impressive financial results, Kinovo's shares have seen a steady increase of all-time highs recently.
Kinovo's FY 2023 results show remarkable growth and financial strength, positioning the company for further success in the coming years. With an optimistic market outlook and consistent share price growth, investors should take note of this bullish development.
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