Yahoo Finance First of Long Island Insiders Placed Bullish Bets Worth US$507.2k
It is usually uneventful when a single insider buys stock. However, When quite a few insiders buy shares, as it happened in The First of Long Island Corporation's (NASDAQ:FLIC) case, it's fantastic news for shareholders.
While we would never suggest that investors should base their decisions solely on what the directors of a company have been doing, we would consider it foolish to ignore insider transactions altogether.
See our latest analysis for First of Long Island
First of Long Island Insider Transactions Over The Last Year
In the last twelve months, the biggest single purchase by an insider was when Senior Executive Vice President Christopher Hilton bought US$195k worth of shares at a price of US$13.95 per share. That means that even when the share price was higher than US$9.59 (the recent price), an insider wanted to purchase shares. It's very possible they regret the purchase, but it's more likely they are bullish about the company. To us, it's very important to consider the price insiders pay for shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. Notably Christopher Hilton was also the biggest seller.
In the last twelve months insiders purchased 41.85k shares for US$507k. But they sold 16.65k shares for US$200k. In total, First of Long Island insiders bought more than they sold over the last year. They paid about US$12.12 on average. I'd consider this a positive as it suggests insiders see value at around the current price. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!
First of Long Island is not the only stock insiders are buying. So take a peek at this free list of under-the-radar companies with insider buying.
Insider Ownership Of First of Long Island
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. Insiders own 5.2% of First of Long Island shares, worth about US$12m. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.
So What Does This Data Suggest About First of Long Island Insiders?
There haven't been any insider transactions in the last three months -- that doesn't mean much. On a brighter note, the transactions over the last year are encouraging. Insiders do have a stake in First of Long Island and their transactions don't cause us concern. Therefore, you should definitely take a look at this FREE report showing analyst forecasts for First of Long Island.
If you would prefer to check out another company -- one with potentially superior financials -- then do not miss this free list of interesting companies, that have HIGH return on equity and low debt.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions of direct interests only, but not derivative transactions or indirect interests.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
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