The share price of auto parts maker Martinrea International Inc. has had to absorb a lot of bad news recently, including the semiconductor shortage, the impact of the Russia-Ukraine war and interest rate hikes. However, insiders seem to be betting that the stock could finally be ready to make a move uphill. They spent $904,000 buying shares in the public market earlier this month as the stock dipped below the $8.60 level. The biggest buyer was president, director and CEO Frank Patrick D’Eramo, who bought 39,559 common shares on March 8.
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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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