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Insider Trading

MEG Energy directors buy after IPO Add to ...

Today, we turn our attention to the oil sands group. MEG Energy Corp.'s stock went public at $35 in the middle of the summer when market sentiment was at its worst. Nevertheless, the firm managed to raise $700-million. Earlier this week, director James McFarland bought 500 shares in the public market at $43.50. During August and September, director Harvey Doerr bought 9,600 shares between the prices of $31.80 and $35.15. Among large-cap stocks on the TSX, executives at MEG have above-median beneficial equity ownership in their firm.

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.

Follow on Twitter: @TedDixon

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