Multiple insiders buying stock in OceanFirst Financial Corp. (NASDAQ:OCFC) is seen as a positive sign for shareholders. Although insider transactions should not be blindly followed, ignoring them entirely would be unwise. In the past year, the company’s Independent Director, Joseph Murphy, made the largest insider purchase, buying shares at a price higher than the current market value. This indicates his bullish outlook on the company. Insiders buying shares at a price above the current market value suggests that they perceive the stock to be undervalued.
During the past twelve months, insiders at OceanFirst Financial Corp. have been buying shares without any selling activity. Insider transactions can be viewed in a chart, including share price, individual, and date, providing investors with more transparency. OceanFirst Financial Corp. is not the only stock where insiders are buying, so investors are encouraged to explore a list of growing companies with insider buying.
Insiders at OceanFirst Financial Corp. own about $27 million worth of shares, which accounts for 3.4% of the company. While this level of insider ownership is considered good, it falls slightly short of being standout. Nevertheless, it suggests a reasonable degree of alignment between insiders and shareholders. Looking at the overall picture, the transactions made by insiders at OceanFirst Financial Corp. over the past year are encouraging, as they demonstrate a commitment to the company’s future growth.
