We last featured Canfor on May 14, 2016.
At the time, director Jim Pattison was buying as shares traded below $15. The stock has since rallied more than 20 per cent, outpacing the INK Canadian Insider Index (up 15 per cent).
Mr. Pattison continues to add to his position, spending $35-million to buy shares on Feb. 13.
Notably, Mr. Pattison's previous purchases have been when the share price has dipped, signalling a contrarian value opportunity. This month, he is buying into price strength suggesting the firm's growth prospects may be under appreciated.
Disclaimer:
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.
Graph Footnote:
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors