Insiders at MCAN Mortgage Corp. (Friday’s close $11.63) are betting on the future. Since Feb. 28, five directors spent $575,372 in total buying shares in the market. The 39,058 shares were purchased at an average price of $13.73. Board chairman Ian Sutherland was one of the buyers, picking up 20,000 shares at an average price of $14.30. Ottawa has taken measures to support the mortgage market in the wake of the COVID-19 crisis. Will the government’s actions work? We may start to get an answer May 12 when MCAN reports quarterly results.
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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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Ted Dixon