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Trade Alert: The Independent Director Of First Busey Corporation (NASDAQ:BUSE), Stephen King, Has Just Spent US$499k Buying 21% More Shares

Simply Wall St
·3 mins read

Investors who take an interest in First Busey Corporation (NASDAQ:BUSE) should definitely note that the Independent Director, Stephen King, recently paid US$18.44 per share to buy US$499k worth of the stock. That's a very solid buy in our book, and increased their holding by a noteworthy 21%.

See our latest analysis for First Busey

The Last 12 Months Of Insider Transactions At First Busey

In the last twelve months, the biggest single purchase by an insider was when Independent Director Karen Jensen bought US$540k worth of shares at a price of US$21.60 per share. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$18.59). Their view may have changed since then, but at least it shows they felt optimistic at the time. 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.

In the last twelve months First Busey insiders were buying shares, but not selling. The average buy price was around US$18.98. This is nice to see since it implies that insiders might see value around current prices. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

insider-trading-volume
insider-trading-volume

First Busey is not the only stock insiders are buying. So take a peek at this free list of growing companies with insider buying.

Insider Ownership

Many investors like to check how much of a company is owned by insiders. A high insider ownership often makes company leadership more mindful of shareholder interests. First Busey insiders own about US$88m worth of shares. That equates to 8.7% of the company. 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 Busey Insiders?

The recent insider purchases are heartening. And an analysis of the transactions over the last year also gives us confidence. When combined with notable insider ownership, these factors suggest First Busey insiders are well aligned, and that they may think the share price is too low. While we like knowing what's going on with the insider's ownership and transactions, we make sure to also consider what risks are facing a stock before making any investment decision. You'd be interested to know, that we found 1 warning sign for First Busey and we suggest you have a look.

But note: First Busey 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.

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. 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.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team@simplywallst.com.