Cascades Inc. CAS-T stock shed nearly 23 per cent after the packaging and tissue products company released first-quarter results on May 12. The company reported a loss of 15 cents per share as inflationary pressures squeezed margins. However, insiders reached for their wallets, not their tissue boxes after the stock tumbled. From May 13 to May 17, five insiders bought a total of 92,900 common shares at an average price of $9.84. The buying was led by executive chairman of the board Alain Lemaire, who picked up 62,000 common shares on May 13.
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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.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
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