On July 27, Mega Brands Inc. reported second quarter earnings of 10 cents per share, up from 2 cents a year earlier. Rising North American sales helped drive the advance.
Since the news, the stock is up about 40 per cent. Can the price momentum continue? At least one director seems to being showing long-term confidence. Between Sept. 12 and Sept. 14, board chair Victor J. Bertrand bought 400,000 shares in the public market at an average price of $9.14.
Institutional investor Fairfax Financial Holdings Ltd. also bought 323,337 shares on Sept. 14.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.