This Insider Has Just Sold Shares In Horizon Bancorp

Anyone interested in Horizon Bancorp, Inc. (NASDAQ:HBNC) should probably be aware that the Chairman, Craig Dwight, recently divested US$171k worth of shares in the company, at an average price of US$17.14 each. On the bright side, that sale was only 1.9% of their holding, so we doubt it's very meaningful, on its own.

Check out our latest analysis for Horizon Bancorp

Horizon Bancorp Insider Transactions Over The Last Year

The Chief Administration Officer & Executive VP, Mark Secor, made the biggest insider sale in the last 12 months. That single transaction was for US$350k worth of shares at a price of US$17.99 each. So what is clear is that an insider saw fit to sell at around the current price of US$16.77. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. In this case, the big sale took place at around the current price, so it's not too bad (but it's still not a positive).

In the last year Horizon Bancorp insiders didn't buy any company stock. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

For those who like to find hidden gems this free list of small cap companies with recent insider purchasing, could be just the ticket.

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 Horizon Bancorp insiders own 2.9% of the company, worth about US$22m. 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 Horizon Bancorp Insiders?

Insiders sold Horizon Bancorp shares recently, but they didn't buy any. And even if we look at the last year, we didn't see any purchases. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We're in no rush to buy! So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. For example - Horizon Bancorp has 3 warning signs we think you should be aware of.

Of course Horizon Bancorp 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 of direct interests only, but not derivative transactions or indirect interests.

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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.