Have Insiders Sold Calumet Shares Recently?

We wouldn't blame Calumet, Inc. (NASDAQ:CLMT) shareholders if they were a little worried about the fact that Jennifer Straumins, the Independent Director recently netted about US$2.4m selling shares at an average price of US$15.85. That sale reduced their total holding by 14% which is hardly insignificant, but far from the worst we've seen.

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The Last 12 Months Of Insider Transactions At Calumet

In fact, the recent sale by Independent Director Jennifer Straumins was not their only sale of Calumet shares this year. Earlier in the year, they fetched US$20.59 per share in a -US$4.1m sale. While we don't usually like to see insider selling, it's more concerning if the sales take place at a lower price. It's of some comfort that this sale was conducted at a price well above the current share price, which is US$16.43. So it may not tell us anything about how insiders feel about the current share price.

Over the last year we saw more insider selling of Calumet shares, than buying. You can see the insider transactions (by companies and individuals) over the last year depicted in the chart below. By clicking on the graph below, you can see the precise details of each insider transaction!

View our latest analysis for Calumet

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Does Calumet 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. Calumet insiders own about US$63m worth of shares. That equates to 4.3% 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 Calumet Insiders?

Insiders sold Calumet shares recently, but they didn't buy any. And our longer term analysis of insider transactions didn't bring confidence, either. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We'd practice some caution before buying! In addition to knowing about insider transactions going on, it's beneficial to identify the risks facing Calumet. For instance, we've identified 3 warning signs for Calumet (1 makes us a bit uncomfortable) you should be aware of.

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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.