President Gregory Dufour Just Bought 1.3% More Shares In Camden National Corporation (NASDAQ:CAC)
Even if it's not a huge purchase, we think it was good to see that Gregory Dufour, the President of Camden National Corporation (NASDAQ:CAC) recently shelled out US$53k to buy stock, at US$37.43 per share. Although the purchase is not a big one, increasing their shareholding by only 1.3%, it can be interpreted as a good sign.
See our latest analysis for Camden National
The Last 12 Months Of Insider Transactions At Camden National
In fact, the recent purchase by Gregory Dufour was the biggest purchase of Camden National shares made by an insider individual in the last twelve months, according to our records. Even though the purchase was made at a significantly lower price than the recent price (US$49.66), we still think insider buying is a positive. Because it occurred at a lower valuation, it doesn't tell us much about whether insiders might find today's price attractive.
While Camden National insiders bought shares during the last year, they didn't sell. The average buy price was around US$41.83. To my mind it is good that insiders have invested their own money in the company. However, we do note that they were buying at significantly lower prices than today's share price. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Camden National is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.
Insider Ownership of Camden National
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. It appears that Camden National insiders own 3.0% of the company, worth about US$22m. 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 Camden National Insiders?
It's certainly positive to see the recent insider purchases. And an analysis of the transactions over the last year also gives us confidence. Given that insiders also own a fair bit of Camden National 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. At Simply Wall St, we found 1 warning sign for Camden National that deserve your attention before buying any shares.
But note: Camden National may not be the best stock to buy. So take a peek at this free list of interesting companies with high ROE 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, 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.
