In the years before the pandemic, Onex Corp. ONEX-T would often hit our screens with a combination of insider buying and strong price momentum even as valuations were not considered cheap. Today, we again have insider buying but price momentum and valuations have flipped roles. The stock is down over the past year and is trading with a relatively low trailing 12-months price-to-earnings of under 4. As the stock moved towards 52-week lows during the week, senior officer Tawfiq Popatia bought 10,000 shares at $75.27.
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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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Ted Dixon