Cheque supplier Davis + Henderson Corp., which has been expanding into the U.S. mortgage servicing technology area announced first quarter results in May. Adjusted net income fell, but net cash from operating activities increased. Although the stock dropped after the news, insiders bought. Director Gordon Feeney spent $1,799,575 to acquire 100,000 shares. Mr. Feeney is a former deputy chair of the Royal Bank of Canada. CEO Gerrard Schmid was also one of the buyers, picking up 3,850 shares between the prices of $16.41 and $16.62.
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.
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