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CEO buys as Roots rallies towards IPO price

CEO buying Roots stock

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Today we look at apparel retailer Roots which is up about 13 per cent over the past three months. That is ahead of the INK Canadian Insider and the S&P/TSX Composite Indices, both up about 3 per cent over the same period. However, Roots has consistently traded below its October, 2017, IPO price of $12. The stock is now within striking distance and it seems chief executive officer James Gabel is betting the stock will overtake it. On Jan. 15, he spent $283,000 buying 25,000 shares at $11.32. He now holds 78,548 shares.

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.

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