With lumber producer Canfor Corporation (TSX:CFP) recently seeing its stock price rally toward the $16-per-share buyout offer initially made by large stakeholder Jim Pattison prior to the COVID-19 outbreak, many investors are wondering how many shares of the lumber producer Pattison was able to scoop up at lower levels.
During the massive volatility in March, shares of Canfor traded around $6 a share, a massive discount to this takeover offer.
Investors will need to keep an eye on what ownership percentage Pattison has in the company, as this will indicate whether or not a buyer will be forced on shareholders. Canfor is not in a sector I'm bullish on, so I remain on the sidelines with this name.
As always, please remember to consult with a certified financial advisor and do your own homework before making investing decisions.
Insider buying and selling activity is not necessarily indicative of the future performance of a given company’s stock price, and insiders regularly buy or sell positions in companies they own or manage for reasons other than expectations of future stock price performance.
Analyzing insider transactions in a given stock is one tool of many to glean pertinent information to assist in investment decision making.
Invest wisely, my friends.
