Insider Trades

Is Broilers’ inside trade a buy signal?

July 24, 2017 by IC Insider.com

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.

Filed Under: Buy Rated, Company News, Insider Trades Tagged With: IC Insider BUY RATED, Insider Trades, Jamaica Broilers, Jamaica Stock Exchange, TOP 10 stocks, Top 10 stocks to buy

Scotiabank reports trades after 6 months

July 5, 2015 by IC Insider.com

Little things sometimes mean a lot. The latest reported insider trades at Scotiabank in Trinidad may not be considered large but they are important. The posting of the trades on the Trinidad and Tobago Stock Exchange website of inside trades is not a refreshing development in the capital markets within the Caribbean.
According to the stock exchange they received notice from “Scotiabank Trinidad & Tobago (SBTT) that a senior officer of purchased 1,177 shares on January 23rd, 2015 and 899 shares on January 26th, 2015,” the notice was posted on June 29th, 2015.
Someone seems to have messed up here. The major reason for disclosure of such trades is to let investors know what insiders are doing with the shares of the company. Such actions can help determine if the fortunes of the company is changing one way or the other. To publish the information 6 months after they took place is unacceptable in what should be a modern capital market system.
The trades were important signal of financial development with the banking group that reported an 18 percent jump in profit for the April quarter and ought to have been reported much, much earlier.

Filed Under: Company News, Insider Trades Tagged With: Insider Trades, Scotiabank, TTSE

NCB insiders buy up shares

May 14, 2015 by IC Insider.com

National Commercial Bank (NCB) advised the Jamaica Stock Exchange that a party connected to three directors purchased 552,790 of the group’s shares on May 7, another amount of 77,886 shares on May 8 and 843,924 on May 11.
NCB posted improved results in its latest quarterly report which shows a 7 percent increase in profits to $3.27 million over the similar quarter in 2014 and profits of $5.4 million for the six months to March. The stock which closed at a 4 1/2 year high of $31.10 on Wednesday, has gained 82 percent since bottoming out last year summer, at $17.
The purchases come amidst reports that NCB is slated to pick up a large block of Guardian Holdings shares. Insiders may not have stopped buying as NCB Capital Markets still a bid for an undisclosed amount at $30.

Filed Under: Company News, Insider Trades Tagged With: Guardian Holdings, Insider Trades, Jamaican Stock, NCB, NCB Capital Markets

Insider sold 2.77m Student Living shares

February 4, 2015 by IC Insider.com

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Newly listed 138 Student Living advises that a related party sold 2,775,000 of the company’s shares on January 30, 2015. T
he shares traded at $4.40 and realised $12,210,000. When the company went public in December last year, some of the initial investors offered shares they owned to the public which was packaged with the public offer. Shares offered by the company were taken up in full, but those by shareholders were only partially bought by the public.
A related party to a directors sold 250,000 Jamaica Broilers Group’s shares on February 2, 2015, the Company advised the Jamaica Stock Exchange.

Filed Under: Company News, Insider Trades Tagged With: 138 Student Living, Insider Trades, Jamaica Broilers, Jamaica Stock Exchange

More insider buying at Sagicor

December 8, 2014 by IC Insider.com

Sagicor Group have been enjoying trades by insider on several occasions this year. The group recently advised that a director purchased 249,648 shares between November 27 & December 1, this year.
The last time before this that an insider traded in the company’s stock was in October, when the company advised that an executive Purchased 417,016 shares under the SGJ Executive Long Term Inventive Scheme on October 24, 2014.
The financial group saw a sharp fall in profit in the quarter, from $1.56 billion to $1.1 billion and net profit of $3.84 billion, with $3.79 billion available to stockholders, for the nine months to September, which was 2.5 percent better than in 2013. the decline in profit in the September quarter is due primarily to cost associated with the acquisition of RBC Royal Bank local operation at the end of June this year. With staff reduction, branch closures and amalgamations, the losses in the acquired banking operation should be sharply reduced from that in the September quarter.

Filed Under: Company News, Insider Trades Tagged With: Inside Trades, Insider Trades, Sagicor Bank, Sagicor Group

More inside buying at Sagicor Group

November 4, 2014 by IC Insider.com

Insider trade is often an important insight into the fortunes of companies. It is not always the case, but large buying or selling is usually a tell tail sign of where company profits are heading.
Executives have been buying into Sagicor Group in recent months. In October another purchase of shares took place. The company advised the Jamaica Stock Exchange that an executive purchased 417,016 of its shares on October 24, 2014 under the Executive Long Term Inventive Scheme.
Sagicor Group reported profit of $1.62 billion for it June quarter this year, versus $1.56 billion last year, and $2.7 billion in the six months to June, this year. Third quarter profit results which are scheduled for release shortly, should be hit with redundancy and other costs, related to the acquisition and rebranding of RBC Jamaica operation at the end of June.

Filed Under: Company News, Insider Trades Tagged With: Insider Trades, Jamaican Stock, RBC Jamaica, Sagicor

More JMMB insider selling

October 20, 2014 by IC Insider.com

Insiders have been selling Jamaica Money Market Brokers (JMMB) shares in fairly large quantities this year, even as the company’s fortunes seem to be bright.
JMMB advised the Jamaica Stock Exchange that a related party sold 5,000,000 of the group’s shares on October 10, 2014. On September 18, this year a connected party also sold 1,000,000 of the Group’s shares.
In March this year CEO Keith Duncan was reported to be telling investors in Trinidad: “If ever there was a time to get excited about JMMB Group’s performance prospects, that time is now!” but while he was telling the Trinidad investors this, persons close to Jamaica Money Market Brokers were continuing to sell shares in the company.
Earlier in the year, five related parties sold a total of 9,663,800 JMMB shares during the period March 17-18, 2014 but that is not the only sale of large amounts around that time. A connected party sold 1,500,000 of the shares on March 4, 2014. A Director sold a relatively small amount of 31,146 JMMB shares on March 11, 2014 but there was a big sell out of 19,464,448 shares on February 17, 2014.

Filed Under: Company News, Insider Trades Tagged With: Insider Trades, JMMB, Keith Duncan

What were these directors hiding?

August 14, 2014 by IC Insider.com

Cable & Wireless (CWJ) nearly 5 months to report insider trades by it senior directors. What were they trying to hide must be the question? Most companies report trades by insiders, a few days after the event.
There can be little excuse for this to have happened, in the case of the CWJ trades. Are there more trades that have not been reported, is an obvious question? The situation in the case of Cable & Wireless is most important, in light of the increased interest in the stock since the start of 2014, with what appears to be a trend of improving revenues and gain in market share, in a number of its business segments.
On Thursday the Jamaica Stock Exchange was informed by Cable & Wireless that that Senior Directors purchased a total of 5,290,069 shares, during the period March 17, 2014 to April 3, 2014.
The trades involved more than one person and at a senior directors’ level. As directors they have a duty to ensure information as critical as this is reported promptly, within a reasonable time to the exchange. Five months after the trades, is not reasonable.
Mayberry Investments advised that related parties conducted trading activity of 122,500 of the company’s shares on August 11 and 12, 2014.

Filed Under: Company News, General Business News, Insider Trades Tagged With: C&WJ, Insider Trades, Jamaican Stock, Mayberry

Insiders buy more shares

July 17, 2014 by IC Insider.com

Inside trades continue apace with the latest once more in Sagicor Group Jamaica who advised that an Executive purchased 571,696 shares under the group’s Executive Long Term Incentive Scheme on July 16, 2014. Pan-Jamaican Investment that owns more than 30 percent of Sagicor also advised that a director purchased 5,000 shares on July 14, 2014.
Blue Power Group advised that a Director sold 687,285 ordinary shares to a connected party of Guardsman Group on July 11, 2014.
Grace Kennedy has advised that on June 26, 2014 GK Capital Management acquired by way of a trade across the floor of the Jamaica Stock Exchange (JSE), 10,200,000 ordinary stock units in the JSE from PWL Transition Ltd (formerly First Global Financial Services (FGFS)). The transfer of the stock units in the JSE was part of the larger transaction whereby all the shares in FGFS were sold by First Global Holdings a subsidiary of Grace to Proven Investments Limited and the price agreed took into account the overall deal.

Filed Under: Company News, JSE Main Market Tagged With: Blue Power, Insider Trades, Pan Jam, Sagicor

Insiders buy into D&G & Sagicor Group

July 14, 2014 by IC Insider.com

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.