We wouldn't blame Algoma Steel Group Inc. (NASDAQ:ASTL) shareholders if they were a little worried about the fact that Brian Pratt, the Independent Director recently netted about US$1.1m selling shares at an average price of US$9.38. However, it's crucial to note that they remain very much invested in the stock and that sale only reduced their holding by 3.0%.
In fact, the recent sale by Brian Pratt was the biggest sale of Algoma Steel Group shares made by an insider individual in the last twelve months, according to our records. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. The good news is that this large sale was at well above current price of US$8.01. So it may not tell us anything about how insiders feel about the current share price.
The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!
