When a single insider purchases stock, it is typically not a major deal. However, when multiple insiders purchase stock, like in Innergex Renewable Energy Inc.'s (TSE:INE) instance, it's good news for shareholders.

Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing.

Check out our latest analysis for Innergex Renewable Energy

Innergex Renewable Energy Insider Transactions Over The Last Year

In the last twelve months, the biggest single purchase by an insider was when Independent Director Marc-Andre Aube bought CA$308k worth of shares at a price of CA$7.69 per share. Even though the purchase was made at a significantly lower price than the recent price (CA$9.81), we still think insider buying is a positive. Because the shares were purchased at a lower price, this particular buy doesn't tell us much about how insiders feel about the current share price.

In the last twelve months Innergex Renewable Energy insiders were buying shares, but not selling. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

There are always plenty of stocks that insiders are buying. If investing in lesser known companies is your style, you could take a look at this free list of companies. (Hint: insiders have been buying them).

Insider Ownership Of Innergex Renewable Energy

For a common shareholder, it is worth checking how many shares are held by company insiders. We usually like to see fairly high levels of insider ownership. Insiders own 0.8% of Innergex Renewable Energy shares, worth about CA$16m. This level of insider ownership is good but just short of being particularly stand-out. It certainly does suggest a reasonable degree of alignment.

So What Does This Data Suggest About Innergex Renewable Energy Insiders?

It doesn't really mean much that no insider has traded Innergex Renewable Energy shares in the last quarter. On a brighter note, the transactions over the last year are encouraging. Insiders own shares in Innergex Renewable Energy and we see no evidence to suggest they are worried about the future. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Innergex Renewable Energy. For instance, we've identified 2 warning signs for Innergex Renewable Energy (1 is a bit unpleasant) you should be aware of.