Have Insiders Sold Unity Bancorp Shares Recently?

Anyone interested in Unity Bancorp, Inc. (NASDAQ:UNTY) should probably be aware that the President & Director, George Boyan, recently divested US$435k worth of shares in the company, at an average price of US$59.16 each. That sale was 12% of their holding, so it does make us raise an eyebrow.

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The Last 12 Months Of Insider Transactions At Unity Bancorp

In fact, the recent sale by George Boyan was the biggest sale of Unity Bancorp shares made by an insider individual in the last twelve months, according to our records. That means that even when the share price was slightly below the current price of US$59.96, an insider wanted to cash in some shares. 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. Please do note, however, that sellers may have a variety of reasons for selling, so we don't know for sure what they think of the stock price. We note that the biggest single sale was only 12% of George Boyan's holding.

Unity Bancorp insiders didn't buy any shares over the last year. 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!

See our latest analysis for Unity Bancorp

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Does Unity Bancorp Boast High Insider Ownership?

Many investors like to check how much of a company is owned by insiders. We usually like to see fairly high levels of insider ownership. Unity Bancorp insiders own about US$56m worth of shares. That equates to 9.3% 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 Unity Bancorp Insiders?

An insider hasn't bought Unity Bancorp stock in the last three months, but there was some selling. And there weren't any purchases to give us comfort, over the last year. But since Unity Bancorp is profitable and growing, we're not too worried by this. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We'd practice some caution before buying! So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. You'd be interested to know, that we found 1 warning sign for Unity Bancorp and we suggest you have a look.

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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.