Insider Trading | Two executives buy Power stock

The CEO of Power Corporation and a member of the board of directors bought nearly $2 million worth of shares in Montreal financial conglomerate this week.

Posted at 9:00 am

Richard Dufour

Richard Dufour
The press

The big boss, Jeffrey Orr, bought a package of 25,000 shares on Tuesday. It paid a unit price of $33.69, according to a document filed with the stock exchange authorities.

For his part, Pierre Beaudoin, manager, bought a block of 29,600 shares on Tuesday. It too paid a unit price of $33.69. Bombardier Chairman of the Board of Directors Pierre Beaudoin has been a member of the Board of Directors of Power Corporation since 2005.

Power Corporation shares hit a 52-week low of $32.60 on the Toronto Stock Exchange last week. Power Corporation holds significant interests in IGM Financial and Great-West Life, among others.

Here are some other recent purchase transactions that caught our attention:

Buyer at GDI

Two senior GDI executives have just acquired shares in the Montreal-based real estate management and maintenance specialist for a total of approximately $235,000. Craig Stanford bought a block of 1,500 shares on June 7, a transaction valued at approximately $75,000. Jocelyn Trottier bought 3,600 shares on June 17th. GDI stock has fallen since it peaked at $60 last summer.

Bosses buy Knight

The two heads of Thérapeutique Knight have just bought $200,000 worth of stock in the Montreal drug company. Founder and Chairman Jonathan Goodman bought 20,000 shares on June 16, while CEO Samira Sakhia bought 19,455 shares on June 20. Knight’s stock is hovering near its lowest price since the beginning of the year.

A manager buys Saputo

A member of Saputo’s management has just bought nearly $100,000 worth of stock in the Montreal dairy processing company. Senior Vice President of Finance Haig Poutchigian purchased 3,329 shares on June 14 at a price of $27.03 each. Saputo’s stock has fallen sharply since its 2017 high but has recovered from its low of $24.61 set last month.

A trust buys Supremex

Supremex’s largest shareholder, the trust of the late American businessman and entrepreneur Jerry Zucker, has just acquired about $130,000 worth of stock in the Montreal-based maker of envelopes, pizza boxes and other packaging products. The Trust purchased 39,000 shares on June 17 at a price of $3.40 each. This trust holds a stake of more than 23% in Supremex.

A buyer at Uni-Select

A member of Uni-Select’s management has just bought shares in auto parts supplier Boucherville for about $135,000. FinishMaster Division President and COO Mike Sylvester purchased a total of 5,000 shares during the June 13-14 meetings. Uni-Select stock has fallen since hitting a high of $33 in April.

A director buys Transcontinental

A Transcontinental board member this week bought a stake in the Montreal flexible packaging and printing company. Nelson Gentiletti bought 3,000 shares at $15.35 each on Wednesday. Transcontinental stock hit a 52-week low in May at $14.60.

Insiders buy from iA Financial Group

Two iA Financial Group executives have just acquired shares in the company, formerly known as Industrial Alliance, for a total of approximately $150,000. Board member Suzanne Rancourt purchased 900 shares at a price of $61.70 each on June 13, while Sean O’Brien, executive vice president of iA Wealth Management, purchased 1,500 shares at a price of $62.17 each on June 14. iA Financial Group shares hit a 52-week low on the Toronto Stock Exchange last month.

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