Performance Shipping (PSHG) Stock Rockets On Insider Buy

Performance Shipping PSHG Stock News

Performance Shipping Inc (NASDAQ: PSHG) is running for the top in the market this morning, but with no press releases issued, many are wondering why. The move has to do with an SEC filing. Here’s what’s going on:

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PSHG Stock Heads Up On Insider Buy

The documents were filed late Friday, outlining the acquisition of beneficial interest by an insider. According to the filing, Aliki Paliou now owns a total of 23,436,446 common shares of PSHG stock. That represents about 46.7% ownership.

Aliki Paliou is a non-executive director at Performance Shipping.

What’s The Big Deal?

Insiders know a lot more about the companies that we invest in than we do. In fact, every bit of information the general public gets about publicly traded companies is out-of-date. Weeks, or even sometimes months, after the close of the quarter, we receive quarter-end financial data. Deals close in silence, and big changes made by management at publicly traded companies are kept quiet until everything is ironed out.

Insiders know everything that’s happening. So, when an insider buys a large amount of shares, as Aliki Paliou did with PSHG, investors view it as a sign of confidence among the insider that something is going to happen to increase the value of their investment.

With Paliou now owning near 50% of Performance Shipping, with a holding worth more than $10 million, it’s clear that she believes something big is on the horizon for the company, and that’s exciting news for investors.

Final Thoughts

The bottom line here is simple, when insiders start purchassing big chunks of publicly traded companies, like what we saw from Performance Shipping, investors tend to follow the money. As such, it’s no surprise to see that PSHG is rocketing today and wouldn’t be surprising to see big news come out over the next few weeks to couple of months. All in all, PSHG stock is one to watch.

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