Trade Alert: CFO, Chief Accounting Officer & Corporate Development Officer Of Tsakos Energy Navigation Theo Harrys Kosmatos Has Sold Stock
We wouldn't blame Tsakos Energy Navigation Limited (NYSE:TEN) shareholders if they were a little worried about the fact that Theo Harrys Kosmatos, the CFO, Chief Accounting Officer & Corporate Development Officer recently netted about US$530k selling shares at an average price of US$53.00. That sale reduced their total holding by 40% which is hardly insignificant, but far from the worst we've seen.
The Last 12 Months Of Insider Transactions At Tsakos Energy Navigation
In fact, the recent sale by Theo Harrys Kosmatos was the biggest sale of Tsakos Energy Navigation shares made by an insider individual in the last twelve months, according to our records. While insider selling is a negative, to us, it is more negative if the shares are sold at a lower price. It's of some comfort that this sale was conducted at a price well above the current share price, which is US$47.00. So it is hard to draw any strong conclusion from it.
Tsakos Energy Navigation insiders didn't buy any shares over the last year. The chart below shows insider transactions (by companies and individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
Check out our latest analysis for Tsakos Energy Navigation
I will like Tsakos Energy Navigation better if I see some big insider buys. While we wait, check out this free list of undervalued and small cap stocks with considerable, recent, insider buying.
Does Tsakos Energy Navigation Boast High Insider Ownership?
For a common shareholder, it is worth checking how many shares are held by company 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. Tsakos Energy Navigation insiders own about US$140m worth of shares (which is 9.6% of the company). This kind of significant ownership by insiders does generally increase the chance that the company is run in the interest of all shareholders.
So What Does This Data Suggest About Tsakos Energy Navigation Insiders?
Insiders sold Tsakos Energy Navigation shares recently, but they didn't buy any. And there weren't any purchases to give us comfort, over the last year. On the plus side, Tsakos Energy Navigation makes money, and is growing profits. It is good to see high insider ownership, but the insider selling leaves us cautious. So these insider transactions can help us build a thesis about the stock, but it's also worthwhile knowing the risks facing this company. When we did our research, we found 4 warning signs for Tsakos Energy Navigation (2 make us uncomfortable!) that we believe deserve your full attention.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
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.