Insider Trading | Two CEOs buy power shares

The CEO and board member of Power Corporation bought a total of nearly $2 million in stock in the Montreal financial conglomerate this week.

Posted at 9:00 am

Richard Dufour

Richard Dufour

The big boss, Jeffrey Orr, bought a block of 25,000 shares on Tuesday. The unit price paid $33.69, according to a document filed with stock exchanges.

For his part, Pierre Baudouin, director, bought a batch of 29,600 shares on Tuesday. He also paid the $33.69 unit price. Bombardier’s Chairman, Pierre Baudouin has been a member of the Power Corporation’s Board of Directors since 2005.

Power Corporation shares hit a 52-week low of $32.60 on the Toronto Stock Exchange last week. The Power Corporation has major interests in IGM Financial and Great-West Life, among others.

Here are some of the recent buying transactions that caught our eye:

Buyers at GDI

Two senior GDI executives have just purchased shares of the Montreal-based property management and maintenance specialist for a total of approximately $235,000. Craig Stanford bought a set of 1,500 shares on June 7, a deal worth about $75,000. Jocelyn Trotier bought 3,600 shares on June 17. GDI stock has fallen since hitting $60 last summer.

Chiefs buy knights

The two principal managers of Thérapeutique Knight purchased $200,000 worth of shares in the Montreal Pharmaceutical Company. Founder and CEO Jonathan Goodman bought 20,000 shares on June 16, while CEO Samira Sakhiya purchased 19,455 shares on June 20. Knight’s stock is hovering near its lowest price since the beginning of the year.

Manager buys Saputo

A member of Saputo’s management purchased approximately $100,000 of stock in a Montreal dairy processor. Haig Poutchigian, Senior Vice President of Finance, bought 3,329 shares on June 14 at $27.03 per share. Saputo stock has fallen sharply from its 2017 high, but has rebounded from a $24.61 low hit last month.

Trust buys Supremex

Supremex’s largest shareholder, the trust of the late American businessman and entrepreneur Jerry Zucker, has just bought nearly $130,000 of stock in a Montreal company that manufactures envelopes, pizza boxes and other packaging products. On June 17, the fund purchased 39,000 shares at a unit price of $3.40. This trust has over 23% in Supremex.

Buyer at Uni-Select

A member of Uni-Select’s management just bought stock of auto parts supplier Boucherville for approximately $135,000. FinishMaster Business Unit President and COO, Mike Sylvester, purchased a total of 5,000 shares during the June 13-14 sessions. Uni-Select stock has fallen since hitting $33 in April.

A director buys Transcontinental

A member of the Transcontinental board of directors this week bought a batch of shares in flexible packaging and printing company Montreal. Nelson Gentiletti bought 3,000 shares on Wednesday at $15.35 per unit. Transcontinental stock hit a 52-week low in May at $14.60.

Insiders buy from iA Financial Group

Two executives from iA Financial Group purchased a total of about $150,000 of shares in the company formerly known as Industrial Alliance. Board member Susan Rancourt bought 900 shares on June 13 at a unit price of $61.70, while Sean O’Brien, executive vice president of iA Wealth Management, bought 1,500 shares on June 14 at a unit price of $62.17. iA Financial Group shares hit a 52-week low on the Toronto Stock Exchange last month.

#Insider #Trading #CEOs #buy #power #shares

Leave a Comment

Your email address will not be published.