Use of privileged information |  Two executives buy shares of Power

Use of privileged information | Two executives buy shares of Power

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

Posted at 9:00 am

richard dufour

richard dufour
Press

Big boss Jeffrey Orr bought a block of 25,000 shares on Tuesday. He paid a unit price of $33.69, according to a document filed with securities authorities.

Pierre Beaudoin, administrator, for his part bought a block of 29,600 shares on Tuesday. He also paid a unit price of $33.69. Chairman of the Board of Directors of Bombardier, 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 has significant stakes in IGM Financial and Great-West Life, among others.

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

Buyers in GDI

Two senior GDI executives have just purchased shares of the Montreal-based property maintenance and management specialist for a total of approximately $235,000. Craig Stanford purchased a bundle of 1,500 shares on June 7, a transaction worth approximately $75,000. Jocelyn Trottier purchased 3,600 shares on June 17. GDI shares have fallen since hitting a high of $60 last summer.

Bosses buy Knight

The two top leaders of Thérapeutique Knight just bought $200,000 worth of stock in the Montreal pharmaceutical 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 shares have been near their lowest price since the beginning of the year.

A manager buys Saputo

A member of Saputo management just bought nearly $100,000 worth of shares in the Montreal dairy processor. Haig Poutchigian, senior vice president of finance, bought 3,329 shares on June 14 at a price of $27.03 per share. Saputo shares have fallen sharply from their 2017 high, but recovered from their low of $24.61 hit last month.

A trust buys Supremex

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

A buyer at Uni-Select

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

A director buys Transcontinental

A Transcontinental board member this week bought a block of shares in the Montreal company specializing in flexible packaging and printing. Nelson Gentiletti bought 3,000 shares on Wednesday at a price of $15.35 per share. Shares of Transcontinental hit their lowest level in 52 weeks in May at $14.60.

Insiders buy from iA Financial Group

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


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