A Brookfield Business Partners LP director has been buying even as the unit price has been making new 52-week highs.
On Dec. 7, director John Stewart Lacey spent $59,000 picking up shares in the public market. While this is a relatively modest amount, when insiders buy into price strength, they may be telling us that the market has yet to fully price in future growth prospects.
Consequently, even though the stock is up more than 20 per cent over the past 6 months, its price strength may continue.
Disclaimer:
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.
Graph Footnote:
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.