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The fact that multiple Old Dominion Freight Line, Inc. (NASDAQ:ODFL) insiders offloaded a considerable amount of shares over the past year could have raised some eyebrows amongst investors. When evaluating insider transactions, knowing whether insiders are buying is usually more beneficial than knowing whether they are selling, as the latter can be open to many interpretations. However, if numerous insiders are selling, shareholders should investigate more.
While insider transactions are not the most important thing when it comes to long-term investing, we would consider it foolish to ignore insider transactions altogether.
The Last 12 Months Of Insider Transactions At Old Dominion Freight Line
The Executive Chairman of the Board, David Congdon, made the biggest insider sale in the last 12 months. That single transaction was for US$14m worth of shares at a price of US$226 each. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. The good news is that this large sale was at well above current price of US$171. So it is hard to draw any strong conclusion from it.
Over the last year we saw more insider selling of Old Dominion Freight Line shares, than buying. You can see a visual depiction of insider transactions (by companies and individuals) over the last 12 months, below. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
See our latest analysis for Old Dominion Freight Line
For those who like to find hidden gems this free list of small cap companies with recent insider purchasing, could be just the ticket.
Insiders At Old Dominion Freight Line Have Bought Stock Recently
It's good to see that Old Dominion Freight Line insiders have made notable investments in the company's shares. Executive VP Adam Satterfield spent US$432k on stock, and there wasn't any selling. This makes one think the business has some good points.
Does Old Dominion Freight Line Boast High Insider Ownership?
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. I reckon it's a good sign if insiders own a significant number of shares in the company. Old Dominion Freight Line insiders own 11% of the company, currently worth about US$3.8b based on the recent share price. This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.