Don’t ignore the fact that this insider just sold shares of GFL Environmental Inc. (TSE: GFL)


We note that the GFL Environment Inc. (TSE: GFL) Regional Vice President of Liquid Waste, Edward Glavina, recently sold CA $ 123,000 of shares for CA $ 57.20 per share. However, we note that the sale only reduced their stake by 4.4%.

See our latest review for GFL Environmental

The last 12 months of insider trading at GFL Environmental

Over the past year, we can see that the biggest insider sale came from founder Patrick Dovigi for C $ 19 million in shares, at around C $ 38.78 per share. This means that even when the stock price was below the current price of C $ 46.52, an insider wanted to cash in some stock. We generally consider it negative if insiders sold, especially if they did so below the current price, as this implies that they considered a lower price to be reasonable. Please note, however, that sellers can have a variety of reasons for selling, so we are not sure what they think about the stock price. Note that the biggest single sale was 100% of the participation of Patrick Dovigi.

Over the past year, we can see that insiders bought 7.65,000 shares worth C $ 263,000. But insiders sold 547.79,000 shares worth C $ 21 million. Over the past year, we have seen more insider sales of GFL Environmental shares than purchases. They sold for an average price of around C $ 38.89. It is not very encouraging to see that the insiders have sold below the current price. Of course, sales can be motivated for a multitude of reasons, so you shouldn’t jump to conclusions. The chart below shows insider trading (by companies and individuals) over the past year. If you click on the chart, you can see all of the individual trades including the stock price, individual and date!

TSX: GFL Insider Trading Volume September 19, 2021

I would like GFL Environmental better if I see big insider buys. In the meantime, watch this free list of growing companies with significant and recent insider buying.

GFL Environmental insider property

I like to look at how many shares insiders own in a company, to help inform my perspective on their alignment with insiders. I think it’s a good sign if the insiders own a significant number of shares in the company. It’s great to see GFL Environmental insiders own 7.3% of the company, worth about C $ 1.1 billion. Most shareholders would be happy to see this type of insider ownership, as it suggests that management’s incentives are well aligned with those of other shareholders.

So what do GFL’s environmental insider trading indicate?

Insiders haven’t bought GFL Environmental shares in the past three months, but there have been sales. Despite some insider buying, the longer-term picture doesn’t make us much more positive. It’s good to see strong insider ownership, but insider selling leaves us cautious. In addition to knowing the current insider transactions, it is beneficial to identify the risks facing GFL Environmental. You would be interested to know that we have found 1 warning sign for GFL Environmental and we suggest you take a look.

Sure GFL Environmental may not be the best stock to buy. So you might want to see this free collection of high quality companies.

For the purposes of this article, insiders are the persons who report their transactions to the relevant regulatory body. We currently account for open market transactions and private assignments, but not derivative transactions.

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This Simply Wall St article is general in nature. We provide commentary based on historical data and analyst forecasts using only unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell shares and does not take into account your goals or your financial situation. Our aim is to bring you long-term, targeted analysis based on fundamental data. Note that our analysis may not take into account the latest announcements from price sensitive companies or qualitative documents. Simply Wall St has no position in the mentioned stocks.
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