Whilst it may not be a huge deal, we thought it was good to see that the Mackinac Financial Corporation (NASDAQ:MFNC) Independent Director, David Steinhardt, recently bought US$100k worth of stock, for US$10.00 per share. Even though that isn't a massive buy, it did increase their holding by 500%, which is a arguably a good sign.
The Last 12 Months Of Insider Transactions At Mackinac Financial
In fact, the recent purchase by David Steinhardt was the biggest purchase of Mackinac Financial shares made by an insider individual in the last twelve months, according to our records. That means that even when the share price was higher than US$9.48 (the recent price), an insider wanted to purchase shares. While their view may have changed since the purchase was made, this does at least suggest they have had confidence in the company's future. We always take careful note of the price insiders pay when purchasing shares. It is generally more encouraging if they paid above the current price, as it suggests they saw value, even at higher levels.
Happily, we note that in the last year insiders paid US$129k for 12.56k shares. But they sold 1100 shares for US$17k. Overall, Mackinac Financial insiders were net buyers last year. You can see a visual depiction of insider transactions (by individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Mackinac Financial 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 Mackinac Financial
Looking at the total insider shareholdings in a company can help to inform your view of whether they are well aligned with common shareholders. A high insider ownership often makes company leadership more mindful of shareholder interests. Our data indicates that Mackinac Financial insiders own about US$5.5m worth of shares (which is 5.4% of the company). Whilst better than nothing, we're not overly impressed by these holdings.
What Might The Insider Transactions At Mackinac Financial Tell Us?
The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. On this analysis the only slight negative we see is the fairly low (overall) insider ownership; their transactions suggest that they are quite positive on Mackinac Financial stock. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. To assist with this, we've discovered 3 warning signs that you should run your eye over to get a better picture of Mackinac Financial.
Of course Mackinac Financial 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.
If you spot an error that warrants correction, please contact the editor at firstname.lastname@example.org. This article by Simply Wall St is general in nature. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Simply Wall St has no position in the stocks mentioned.
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