Algonquin Power & Utilities Corp. Insiders Bullish on Company Prospects

Algonquin Power & Utilities Corp. (TSX:AQN)(NYSE:AQN) is a company with incredible growth prospects, a stable of assets which are as unique as they are valuable, and a management team which believes in the company’s growth prospects.

When insiders buy the stock of the company they manage, positive signals are sent to the market that indicate this company is undervalued by the overall market. I have written about Algonquin Power in the past, and believe that fundamentally the company is undervalued based on my own personal analysis.

It seems that this feeling is also shared by management, with insider Jennifer Tindale buying 7,650 shares at an average price of $13.70 on May 23, for a total transaction value of nearly $105,000. This purchase is one of the more recent purchases by insiders, and should be considered a very bullish signal to investors considering a position in this company compared with the majority of companies which see a net outflow of shares from insiders on a regular basis due to share-based compensation.

Signals are important for the market, and how a company’s directors or management choose to invest or divest of their company’s shares is a pretty good signal to the market as to how the company is expected to perform moving forward. I remain bullish on Algonquin Power for the aforementioned reasons, and will continue to monitor insider share movement over the near-term.