Food products manufacturer Planet Green Holdings Corp. (NYSE:PLAG) recently revealed in a filing with the Securities and Exchange Commission (SEC) that a top shareholder of the company has bought a substantial chunk of its shares.
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Details of the Buyout
CEO and Director of the company, Zhou Bin, is the top shareholder who carried out the buyout. Bin purchased shares worth $ 1.4 million. This purchase took his total buyout of the stock in the past year to more than $12 million.
Notably, a top shareholder is one who owns more than 10% of the company.
Is PLAG Stock a Good Buy?
According to the TipRanks’ Insider Trading Activity tool, which also provides a comprehensive list of daily insider transactions, insiders are currently Positive on Planet Green as corporate insiders have bought PLAG shares worth $8.6 million in the last three months.
Interestingly, TipRanks also provides a list of hot stocks that boast of either a Very Positive or Positive insider confidence signal.
Final Thoughts
Shares of Planet Green are down by about 12.6% so far this year. However, this has not deterred Zin from purchasing the company’s stock in recent times. This reflects Zin’s confidence in the company’s prospects, and investors can take it into consideration as an investment choice.
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