This Insider Has Just Sold Shares In Oppenheimer Holdings

Explore Oppenheimer Holdings's Fair Values from the Community and select yours

We'd be surprised if Oppenheimer Holdings Inc. (NYSE:OPY) shareholders haven't noticed that the Executive VP, Dennis McNamara, recently sold US$148k worth of stock at US$73.81 per share. On the bright side, that sale was only 8.4% of their holding, so we doubt it's very meaningful, on its own.

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The Last 12 Months Of Insider Transactions At Oppenheimer Holdings

In the last twelve months, the biggest single sale by an insider was when the Lead Independent Director, Paul Friedman, sold US$443k worth of shares at a price of US$63.32 per share. That means that an insider was selling shares at slightly below the current price (US$71.90). We generally consider it a negative if insiders have been selling, especially if they did so below the current price, because it implies that they considered a lower price to be reasonable. However, while insider selling is sometimes discouraging, it's only a weak signal. This single sale was just 29% of Paul Friedman's stake.

Happily, we note that in the last year insiders paid US$14k for 276.41 shares. On the other hand they divested 12.75k shares, for US$818k. Over the last year we saw more insider selling of Oppenheimer Holdings shares, than buying. The average sell price was around US$64.17. It's not particularly great to see insiders were selling shares at below recent prices. But we wouldn't put too much weight on the insider selling. The chart below shows insider transactions (by companies and individuals) over the last year. If you click on the chart, you can see all the individual transactions, including the share price, individual, and the date!

Check out our latest analysis for Oppenheimer Holdings

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Does Oppenheimer Holdings 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. It's great to see that Oppenheimer Holdings insiders own 44% of the company, worth about US$330m. I like to see this level of insider ownership, because it increases the chances that management are thinking about the best interests of shareholders.

So What Do The Oppenheimer Holdings Insider Transactions Indicate?

Insiders haven't bought Oppenheimer Holdings stock in the last three months, but there was some selling. Despite some insider buying, the longer term picture doesn't make us feel much more positive. But it is good to see that Oppenheimer Holdings is growing earnings. The company boasts high insider ownership, but we're a little hesitant, given the history of share sales. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. For example, Oppenheimer Holdings has 2 warning signs (and 1 which shouldn't be ignored) we think you should know about.

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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.