Insider trading in the stock of the company they are connected to can be a big indicators of future prospects, but it is not always the case.
In the past big purchasing of Jamaica Broilers Group shares by insiders have signaled improved profits down the road.
Could the latest big trade be such a signal? The latest ones are a bit confusing with bought buying and selling although there is a bias towards buying. The company recently reported that three Directors and three Senior Managers purchased a total of 5,735,448 of the company’s shares and that a Director and a Senior Manager sold a total of 5,214,772 of the shares, during the period July 11 to 14.
The company reported earnings of $1.85 per share for the just concluded 2017 fiscal year and IC Insider.com forecast is for $2.60 for the 2018 fiscal year to April as revenues continues to grow and debt is paid down with increasing profits. The stock which traded on the Jamaica Stock Exchange on Friday at $18, is one of IC Insider.com’s TOP 10 main market stocks to own.
