The Canadian stocks on our list have seen big-money insider buying during the past few weeks
SmallCapPower | January 6, 2021: Insiders are defined as company management or individuals or institutions that own more than 10% of a company’s shares. When insiders buy their company’s stock it shows confidence in the future of its business. Today we have discovered three Canadian stocks with recent notable dollar insider buying.
*Returns are based on closing stock prices as of January 5, 2021
Genesis Land Development Corp. (TSX:GDC) – $2.20
Genesis Land Development is a land developer and residential home builder in the Calgary Metropolitan Area. During Q3 2020, the Company reported net earnings attributable to equity shareholders of $3.8 million, up from $0.3 million during the same period last year, while revenue rose 132% year over year. Genesis Land announced recently a special cash dividend of $0.15 per common share. On December 14, director Mark Mitchell invested about $1.7 million in Genesis stock at a cost per share of $2.25.
Ayr Strategies Inc. (CSE:AYR.A) – $31.77
Ayr Strategies is an expanding vertically integrated, U.S. multi-state cannabis operator, focusing on high-growth markets. The Company cultivates and manufactures branded cannabis products for distribution through its network of retail outlets and through third-party stores. Ayr Strategies announced recently the acquisition of Liberty Health Sciences, a vertically-integrated operator in Florida, for $290 million in stock. On December 23, Ayr director Glenn Isaacson purchased more than US$433,000 of Company stock at a cost of US$21.70 per share.
Laurentian Bank of Canada (TSX:LB) – $31.60
Founded in 1846, Laurentian Bank Financial Group is a Canada-based chartered bank that provides banking services to individuals, and small and medium-sized enterprises, as well as to independent advisors across the country and operates as a full-service brokerage firm. The Company provides a broad range of advice-based solutions and services to its retail, business and institutional customers. Laurentian has $44.2 billion in balance sheet assets and $27.8 billion in assets under administration. On December 29, director David Mowat invested more than $300,000 in LB stock at a cost per share of $31.22.
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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