Mayberry Investments one of the Major shareholders in Access Financial Services purchased a total of 145,600 shares in the company during the period June 10-24, 2014. Access Financial Services advised the Jamaica Stock Exchange that a related party to purchase the shares. A check on the trades indicates that they were all bought by Mayberry for in house purposes. Mayberry bought another 67,400 units from two of its clients, on Monday June 30 at $13.50. The purchase of the shares comes against the background of legal action being pursued by the two a major shareholders of the company which was brought by Marcus James the Chief Executive Officer (CEO) against the directors connected with Mayberry to restrain them from removing him as CEO.
Sagicor Group| An executive purchased 257,780 shares of Sagicor Group under the company’s Executive Long Term Incentive Scheme on June 23, 2014. Both companies recently reported the trades to the stock exchange.
Mayberry ups holdings in Access
More Insider trades
A senior manager of Scotia Group Jamaica acquired 9,284 of he group's shares under the group’s Employee Share Ownership Plan on February 19, 2014 and an Executive of Sagicor Group purchased 400,000 shares under the Executive Long Term Incentive Scheme on June 16, the companies informed the Jamaica Stock Exchange recently.
Trinidad’s Neal & Massy Holdings informed the Trinidad & Tobago Stock Exchange that on June 6, 2014 a Director sold 13,563 of the company’s shares.
Sagicor and NCB inside trades
Inside trades continue for companies on the Jamaica Stock Exchange, the latest such trades are in two of the country’s largest companies and may well be indicative of the short term fortunes of both entities, with six months results for NCB suggesting a good year for them while Sagicor Group could get hit with the acquisition of loss making RBC Royal Bank Jamaican operation that could negatively affect the groups results for the second half of 2014.AIC (Barbados) Limited purchased 2,400,000 National Commercial Bank shares on June 18, this year and an Executive of Sagicor Group sold 1,200,000 of the group’s shares under the Executive Long Term Incentive Scheme during on June 18, 2014 a release from the companies to the Jamaican Stock Exchange stated.
On June 17, a senior manager also sold 1,820,000 shares of Sagicor Group under the group’s Executive Long Term Incentive Scheme.
Inside trades at Sagicor & General Accident
Inside trades – Director buys into D&G
Trade by insiders can be a good indicator about the future prospects of a company’s performance but not every inside trade will be informative and can be relied on. The latest insider trades include a relative big purchase that of 1,971,000 Desnoes & Geddes shares by a Director of the company that was carried out on June 13, 2014.
An Executive of Scotia Group purchased 239,106 shares under the company’s Executive Long Term Incentive Scheme on June 9, 2014 for settlement on June 12, 2014. Over at Pan-Jam Investment Trust a Director purchased 10,000 Pan-Jamaican Trust shares on June 10, 2014.
JMMB inside sales
Persons close to Jamaica Money Market Brokers continue to sell shares in the company even as the 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!”
The company advised that a related party sold 384,132 JMMB shares on March 26, 2014. The shares were traded on the Jamaica Stock Exchange at $7.50 each but the stock was selling in Trinidad at the same time at the equivalent of $9.50, exactly 26.9 percent difference.
Related posts | JMMB Insiders sell big | NCB insider buys, JMMB sells | JMMB in expansion mode
More insider sales than buys
Recently, there was low-volume insider selling of stocks of 3 companies with one buying, which does not suggest much about the companies’ fortunes changing significantly.
The largest is Jamaica Money Market Brokers. However, the company’s stock has been rising in Trinidad following a briefing by the company where the management told investors that they were bullish on JMMB’s future including news about acquiring a bank in the Dominican Republic.
JMMB advised that a related party sold 270,007 of its shares on March 25.
Blue Power Group advised that a senior manager sold 20,000 shares of the company on March 18.
Mayberry Investments advised that a director sold 13,650 of its shares during the period March 20 – 21.
The Gleaner Company advised that a Director purchased 30,000 of its shares on March 20.
Related posts | JMMB Insiders sell big | JMMB in expansion mode | NCB insider buys, JMMB sells
JMMB Insiders sell big
Jamaica Money Market Brokers profits for the year to December 2013 was up 46 percent from ongoing operations putting earnings per share at $1.32 for the nine months period to December, which suggest that the stock is highly undervalued and should be very attractive with a PE of 4 times the 2013/14 earnings.
But some insiders can’t wait for the payoff down the road as the company advised that five related parties sold a total of 9,663,800 JMMB shares during the period March 17 – 18, 2014.
However, this is not the only sale of large amounts in recent times as 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.
JMMB is an IC Insider Buy Rated Stock.
Related posts | JMMB in expansion mode| Buy Rated: Ja Teas & JMMB big gains | NCB insider buys, JMMB sells
NCB insider buys, JMMB sells
There was contrasting trading action by insiders in two related companies this past week with National Commercial Bank, that owns roughly 30 percent of JMMB, advising that a related party purchased 6,000,000 of the bank’s shares on March 6, 2014 while Jamaica Money Market Brokers (JMMB) advised that a connected party sold 1,500,000 of its shares on March 4, 2014.
In the latest quarterly reports to December quarter last year, NCB profits grew to $2.86 billion from $2.79 billion while JMMB net profit grew to $752 million from $642 the year before.
Additionally, Jamaica Money Market Brokers advised that a Director sold 31,146 of the company’s shares on March 11, 2014.
Image courtesy of StuartMiles/FreeDigitalPhotos.net
Recent insider trades
Trading by insiders in their company stock on the Jamaica Stock Market can give insights to investors.
National Commercial Bank Jamaica advised that a related party purchased 1,590,083 of its shares on February 21, 2014.
National Commercial Bank Jamaica Limited advised that a connected party purchased 498,100 of its shares on February 14, 2014 and also advised that a related party purchased 46,986 of the shares on February 11, 2014.
National Commercial Bank Jamaica advised that a related party purchased a total of 20,089,111 of the bank’s shares on February 4, 2014. Shares totalling 18.25 million were traded on the Trinidad Stock Exchange and the rest on the Jamaica Stock Exchange.
Scotia Group advised that a senior manager sold 50,000 of the group’s shares on January 31, 2014.
Mayberry Investments (MIL) advised that a related party purchased 1,222,206 of the company’s shares on January 23, 2014.
KLE Group Limited has advised that a director sold 56,860 of the company’s shares on January 21, 2014.
The Gleaner Company advised that a senior manager sold 210,000 of the company’s shares on January 21, 2014.
Grace Kennedy has advised that as at January 2, 2014 a total of 1,440,062 of the company’s shares were purchased under the Share Buy Back Programme
Mayberry Investments (MIL) advised that a related party purchased 249,771 of the company’s shares during the period January 6 -10, 2014 and a related party sold 12,862 of the shares on January 9, 2014.
Mayberry Investments (MIL) reported a big inside trade on December 24, 2013 when a related party purchased 10,000,000 MIL shares from a related party who sold 10,168,266 of the company’s shares. The shares were traded between $2 and $2.02.
Desnoes & Geddes Limited (DG) reported that a director purchased 390,000 shares of on December 24, 2013, the price the stock traded at was $5.
Scotia Group Jamaica Limited (SGJL) reported that a Senior Manager purchased 5,050 shares on December 20, 2013, the stock traded between $19-20.
Pan-Jamaican Investment Trust Limited reported that senior managers were issued a total of 45,740 shares under the Pan-Jam Long Term Incentive Plan on December 24, 2013.
National Commercial Bank (NCBJ) advised that a related party sold a total of 27,111,000 NCBJ shares on December 30, 2013. The stock traded at $17.50 and Scotia Investment was the selling broker with Mayberry Investments to buying broker. Additionally, two directors purchased a total of 15,553 of the company’s shares on December 19, 2013.
Consolidated Bakeries advised that a senior manager purchased a total of 170,300 of the company’s shares on December 20, 2013.
Grace Kennedy Limited advised that Non-Executive Directors acquired a total of 84,880 GK shares on December 13, 2013.
Scotia Group Jamaica Limited (SGJL) advised that a senior manager purchased 2,400 of the group’s shares on December 10, 2013.
Gleaner Company advised that a director purchased a total of 398,946 of the company’s shares during the period December 2 – 19, 2013.
Desnoes & Geddes Limited (DG) advised that a director purchased director purchased 500,000 of the company’s shares on November 19, 2013 and 32,224 during the period November 29, 2013 to December 2, 2013.
Consolidated Bakeries (PURITY) advised that a director purchased 223,000 shares during the period November 13 – 20, 2013.
