When a single insider purchases stock, it is typically not a major deal. However, when multiple insiders purchase stock, like in The First of Long Island Corporation's (NASDAQ:FLIC) instance, it's good news for shareholders.

Although we don't think shareholders should simply follow insider transactions, we do think it is perfectly logical to keep tabs on what insiders are doing.

View our latest analysis for First of Long Island

First of Long Island Insider Transactions Over The Last Year

The Senior Executive Vice President Christopher Hilton made the biggest insider purchase in the last 12 months. That single transaction was for US$195k worth of shares at a price of US$13.95 each. So it's clear an insider wanted to buy, even at a higher price than the current share price (being US$12.37). It's very possible they regret the purchase, but it's more likely they are bullish about the company. To us, it's very important to consider the price insiders pay for shares. Generally speaking, it catches our eye when insiders have purchased shares at above current prices, as it suggests they believed the shares were worth buying, even at a higher price. We note that Christopher Hilton was both the biggest buyer and the biggest seller.

Happily, we note that in the last year insiders paid US$393k for 31.50k shares. But insiders sold 19.15k shares worth US$227k. Overall, First of Long Island insiders were net buyers during the last year. The average buy price was around US$12.47. I'd consider this a positive as it suggests insiders see value at around the current price. The chart below shows insider transactions (by companies and individuals) over the last year. By clicking on the graph below, you can see the precise details of each insider transaction!

There are always plenty of stocks that insiders are buying. So if that suits your style you could check each stock one by one or you could take a look at this free list of companies. (Hint: insiders have been buying them).

Insiders At First of Long Island Have Bought Stock Recently

Over the last three months, we've seen significantly more insider buying, than insider selling, at First of Long Island. We can see that Senior Executive Vice President Christopher Hilton paid US$183k for shares in the company. But Senior Executive Vice President Christopher Hilton sold shares worth US$119k. The buying outweighs the selling, which suggests that insiders may believe the company will do well in the future.

Insider Ownership Of First of Long Island

Many investors like to check how much of a company is owned by 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. First of Long Island insiders own about US$14m worth of shares. That equates to 4.9% of the company. We've certainly seen higher levels of insider ownership elsewhere, but these holdings are enough to suggest alignment between insiders and the other shareholders.