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Aurigen Capital Ltd. is likely to raise $225-million in what would be the largest Canadian IPO filed so far this year. (Frank Gunn/THE CANADIAN PRESS)
Aurigen Capital Ltd. is likely to raise $225-million in what would be the largest Canadian IPO filed so far this year. (Frank Gunn/THE CANADIAN PRESS)

NUMBER CRUNCHER

Sixteen stocks signalling upside with strong insider buying Add to ...

What are we looking for?

Canadian stocks that insiders have been scooping up.

Strong insider buying has long been regarded as an indication of a stock’s immediate upside potential. After all, who better than a company’s managers and directors to evaluate and capitalize on an upcoming catalyst that might propel their stock higher? So we went looking for Canadian stocks with good insider buying activity over the last month.

The screen

To make the list, stocks needed to be Canadian-listed and have a market capitalization of at least $100-million.

Next, we screened for companies that had overall insider buying of at least 0.5 per cent of total trading volume over the past month.

We set the same criterion for management buying – greater than 0.5 per cent of total trading volume over the past month.

What did we find?

The resulting list of 16 stocks includes those Canadian companies with some of the strongest insider buying.

Investors are cautioned that insider interest alone is no foolproof determinant of an impending stock rally. In fact, some research has shown that an investor tracking just those stocks with the greatest levels of insider buying would, in fact, underperform relevant stock indexes.

Still, insider buying is one potential signal that a stock’s best-informed observers are feeling confident about its future.

Additional research may help identify stocks within this list that are on the cusp of a shareholder-friendly development.

Stocks with recent insider buying activity

Follow on Twitter: @tshufelt

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