Christopher Hilton Bought 89% More Shares In First of Long Island
Investors who take an interest in The First of Long Island Corporation (NASDAQ:FLIC) should definitely note that the Executive VP & Chief Lending Officer, Christopher Hilton, recently paid US$13.95 per share to buy US$195k worth of the stock. We reckon that's a good sign, especially since the purchase boosted their holding by 89%.
See our latest analysis for First of Long Island
First of Long Island Insider Transactions Over The Last Year
In fact, the recent purchase by Christopher Hilton was the biggest purchase of First of Long Island shares made by an insider individual in the last twelve months, according to our records. So it's clear an insider wanted to buy, at around the current price, which is US$13.98. Of course they may have changed their mind. But this suggests they are optimistic. We do always like to see insider buying, but it is worth noting if those purchases were made at well below today's share price, as the discount to value may have narrowed with the rising price. Happily, the First of Long Island insiders decided to buy shares at close to current prices. Notably Christopher Hilton was also the biggest seller.
Happily, we note that in the last year insiders paid US$209k for 15.00k shares. But they sold 8.31k shares for US$108k. Overall, First of Long Island insiders were net buyers during the last year. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
First of Long Island is not the only stock that insiders are buying. For those who like to find winning investments this free list of growing companies with recent insider purchasing, could be just the ticket.
Insider Ownership Of First of Long Island
Many investors like to check how much of a company is owned by insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. It appears that First of Long Island insiders own 4.9% of the company, worth about US$15m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
So What Does This Data Suggest About First of Long Island Insiders?
It is good to see recent purchasing. And an analysis of the transactions over the last year also gives us confidence. Given that insiders also own a fair bit of First of Long Island we think they are probably pretty confident of a bright future. So while it's helpful to know what insiders are doing in terms of buying or selling, it's also helpful to know the risks that a particular company is facing. Case in point: We've spotted 1 warning sign for First of Long Island you should be aware of.
Of course First of Long Island may not be the best stock to buy. So you may wish to see this free collection of high quality companies.
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, but not derivative transactions.
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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.
