Independent Director Robert Keane Sold A Bunch Of Shares In Astronics

Some Astronics Corporation (NASDAQ:ATRO) shareholders may be a little concerned to see that the Independent Director, Robert Keane, recently sold a substantial US$1.9m worth of stock at a price of US$24.55 per share. That diminished their holding by a very significant 64%, which arguably implies a strong desire to reallocate capital.

See our latest analysis for Astronics

The Last 12 Months Of Insider Transactions At Astronics

Notably, that recent sale by Robert Keane is the biggest insider sale of Astronics shares that we've seen in the last year. That means that even when the share price was slightly below the current price of US$24.77, an insider wanted to cash in some shares. When an insider sells below the current price, it suggests that they considered that lower price to be fair. That makes us wonder what they think of the (higher) recent valuation. Please do note, however, that sellers may have a variety of reasons for selling, so we don't know for sure what they think of the stock price. This single sale was 64% of Robert Keane's stake.

In the last year Astronics 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!

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Does Astronics Boast High Insider Ownership?

Another way to test the alignment between the leaders of a company and other shareholders is to look at how many shares they own. A high insider ownership often makes company leadership more mindful of shareholder interests. Astronics insiders own about US$86m worth of shares. That equates to 9.9% of the company. 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 Astronics Insiders?

Insiders sold stock recently, but they haven't been buying. Looking to the last twelve months, our data doesn't show any insider buying. Insiders own shares, but we're still pretty cautious, given the history of sales. So we'd only buy after careful consideration. In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Astronics. To help with this, we've discovered 2 warning signs (1 is significant!) that you ought to be aware of before buying any shares in Astronics.

Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting 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.