While many investors have shunned the local stock market a few persons close to some of the listed companies are doing the opposite and are buying stocks at severely undervalued prices.
The latest such purchases are for shares in Desnoes and Geddes (D&G) and Sagicor Group. Interestingly, there are close connections between the two, with the chairman of D&G being Richard Byles, the president of Sagicor.
The companies recently reported the trades to the Jamaica Stock Exchange. In the case of D&G’s a director purchased 655,199 shares on June 20, 2014 and July 1, 2014 and an executive purchased 2,274,593 Sagicor Group shares. on July 1, 2014, under the group’s Executive Long Term Incentive Scheme.
Insiders buy into D&G & Sagicor Group
July 14, 2014 by
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