Have Insiders Sold Chemung Financial Corporation (NASDAQ:CHMG) Shares Recently?

By
Simply Wall St
Published
May 04, 2021
NasdaqGS:CHMG
Source: Shutterstock

Anyone interested in Chemung Financial Corporation (NASDAQ:CHMG) should probably be aware that the Independent Director, Robert Dalrymple, recently divested US$151k worth of shares in the company, at an average price of US$42.87 each. On the bright side, that sale was only 1.4% of their holding, so we doubt it's very meaningful, on its own.

See our latest analysis for Chemung Financial

The Last 12 Months Of Insider Transactions At Chemung Financial

The Executive Vice President of Wealth Management Group at Chemung Canal Trust Company Thomas Wirth made the biggest insider purchase in the last 12 months. That single transaction was for US$163k worth of shares at a price of US$24.45 each. Even though the purchase was made at a significantly lower price than the recent price (US$42.78), we still think insider buying is a positive. While it does suggest insiders consider the stock undervalued at lower prices, this transaction doesn't tell us much about what they think of current prices.

In the last twelve months insiders purchased 12.10k shares for US$313k. But insiders sold 4.23k shares worth US$181k. In the last twelve months there was more buying than selling by Chemung Financial insiders. 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!

insider-trading-volume
NasdaqGS:CHMG Insider Trading Volume May 5th 2021

There are plenty of other companies that have insiders buying up shares. You probably do not want to miss this free list of growing companies that insiders are buying.

Does Chemung Financial Boast High Insider Ownership?

For a common shareholder, it is worth checking how many shares are held by company insiders. Usually, the higher the insider ownership, the more likely it is that insiders will be incentivised to build the company for the long term. It appears that Chemung Financial insiders own 21% of the company, worth about US$43m. 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 Do The Chemung Financial Insider Transactions Indicate?

Insiders sold Chemung Financial shares recently, but they didn't buy any. On the other hand, the insider transactions over the last year are encouraging. And insiders do own shares. So we're happy enough to look past some selling. 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. You'd be interested to know, that we found 1 warning sign for Chemung Financial and we suggest you have a look.

Of course Chemung 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’re looking to trade Chemung Financial, open an account with the lowest-cost* platform trusted by professionals, Interactive Brokers. Their clients from over 200 countries and territories trade stocks, options, futures, forex, bonds and funds worldwide from a single integrated account. Promoted


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.
*Interactive Brokers Rated Lowest Cost Broker by StockBrokers.com Annual Online Review 2020


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

Discounted cash flow calculation for every stock

Simply Wall St does a detailed discounted cash flow calculation every 6 hours for every stock on the market, so if you want to find the intrinsic value of any company just search here. It’s FREE.


Simply Wall St character - Warren

Simply Wall St

Simply Wall St is focused on providing unbiased, high-quality research coverage on every listed company in the world. Our research team consists of data scientists and multiple equity analysts with over two decades worth of financial markets experience between them.