The Canadian stocks on our list have seen significant dollar share purchases from company insiders
SmallCapPower | November 30, 2020: 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 significant dollar insider buying.
*Returns are based on closing stock prices as of November 27, 2020
Echelon Financial Holdings Inc. (TSX:EFH) – $1.83
Echelon Financial Holdings, founded in 1998, operates in the property and casualty insurance industry in Canada, providing personal and commercial lines insurance exclusively through the broker channel. The Company distributes insurance products through The Insurance Company of Prince Edward Island. During Q3 2020, Echelon reported net income on continued operations of $0.24 per share, compared with a net loss of $0.04 per share during the same period last year. Between November 16 and 17, 2020, Company CEO Serge Lavoie purchased more $139,000 of EFH stock at a price of $1.35 per share, while Echelon Financial Director Brian Reeve acquired more over $363,000 of the company’s shares at the same cost per share.
- One-Year Return: 22% (includes a special dividend of $5.60 per share paid on September 15)
Sprott Inc. (TSX:SII) – $39.75
Sprott is an alternative asset manager specializing in precious metals investments. Through its subsidiaries in Canada, the US and Asia, the Company is dedicated to providing investors with specialized investment strategies that include Exchange Listed Products, Managed Equities, Lending, and Brokerage. Between November 17 and 18, 2020, Sprott President Whitney George invested over $892,000 in Sprott stock at an average cost per share of about $29.76.
- One-Year Return: 46% (including dividends)
Aimia Inc. (TSX:AIM) – $3.96
Aimia is an investment holding company with a diversified portfolio including a 48.9% equity stake in PLM Premier, S.A.P.I. de C.V. (PLM), owner and operator of Club Premier, the coalition loyalty program in Mexico that operates the Aeromexico Frequent Flyer program, a 49.3% equity stake in Kognitiv, a B2B technology and services company with a collaborative commerce technology platform, a 20.0% equity stake in BIGLIFE, the operator of BIG Loyalty, one of the largest loyalty programs across Asia, a 10.85% stake in Clear Media Limited, one of the largest outdoor advertising firms in China, as well as minority stakes in outdoor adviser JCDecaux and Australian entertainment company Village Roadshow. On November 16, 2020, Aimia CEO Christopher Mittleman bought 25,000 AIM shares and since June 2020, Company insiders purchased a total of 273,100 shares in the public market at an average price of $3.05 per share.
- One-Year Return: 2%
Disclosure: Neither the author nor his family own shares in any of the companies mentioned above.
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