InsidersLike the rest of the market, I hate it when insiders sell. As unrealistic as it is, the market seems to think that insiders should just buy, buy, buy, and never sell. I mean, if insiders don’t believe in the company’s future, why should we? But with small companies, stock based compensation packages are a normal part of the deal for executive types, and stock is worth nothing until you sell it, so we should actually expect to see insider sells from time to time.
The two individuals who sold here recently are an interesting case. I’ve never met either one, but a quick online check shows that they’ve both been with this company for a couple decades, and are also partners in a trucking firm that they started in 1969. Hmmm… These guys are even older than me (likely into their 70’s). They each had a million shares of this company, no doubt collected over the last 20 years, and are at an age when most of us would think it is WAY past time to start enjoying the fruits of decades of work. Neither one sold all his shares, they both still have way more shares than I own. Combine that with the fact that other insiders are currently buying.
Of course, I’d prefer it if insiders never ever sold a single share. But sometimes it isn’t necessarily a sign that they don’t believe in the company’s future.