Sierra Wireless Inc. reported third-quarter results on Nov. 9, and the stock jumped the following day. Two insiders, including the chief executive officer, subsequently bought on Nov. 12. Seeing insiders buy after both news and a jump in the share price is generally a bullish sign. Now, we will wait to see if the stock can reward both investors and insiders by moving to new 52-week highs, something the stock has not done since Jan. 22, when it traded as high as $28.23.
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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Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
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Ted Dixon