Shares of Cargojet Inc. got a lift in February after the company reported a new multi-year contract with Canada Post to provide domestic air cargo services. Cargojet expects revenues to be about $1-billion during the initial 7-year term. Investors have cheered the news, pushing the share price higher by 47 per cent since the announcement. The stock caught our eye after CFO John Kim bought 5,000 shares in the public market at $21.25 on Wednesday. Generally, it is rare to see a CFO of any company buy right after a strong rally.
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.
Infographic reflects public-market transactions of common shares or unit trusts by company officers and directors.
Follow Ted Dixon, CFA on Twitter:
- Cargojet Inc$48.40-1.10(-2.22%)
- Updated February 24 3:59 PM EST. Delayed by at least 15 minutes.