Executives at Winnipeg bus maker New Flyer Industries Inc. have not been complaining about the high Canadian dollar. Instead, the company reported a 60-per-cent jump in cash flow from operations (before adjustments) over the comparable period a year ago in its third-quarter earnings report. So perhaps it is not surprising to see some insider buying.
On Nov. 17, executive vice-president Colin Pewarchuk bought 5,000 units in the public market at $9.69. Director and former Newfoundland premier Brian Tobin also picked up 7,700 units at the same price. In terms of public market activity over the past 12 months, officers and directors at the issuer bought 114,700 units and sold none.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. Investments profiled are from a recent edition of the Morning INK report which is distributed daily to subscribers and clients of select financial institutions. INK staff may hold shares in profiled securities.