Anyone interested in Quebecor Inc. (TSE:QBR.B) should probably be aware that the Corporate Director, Manon Brouillette, recently divested CA$301k worth of shares in the company, at an average price of CA$30.12 each. That sale was 28.6% of their holding, so it does make us raise an eyebrow.
Quebecor Insider Transactions Over The Last Year
The COO & Chief Legal Officer, Marc Tremblay, made the biggest insider sale in the last 12 months. That single transaction was for CA$2.7m worth of shares at a price of CA$31.32 each. That means that an insider was selling shares at around the current price of CA$30.11. We generally don't like to see insider selling, but the lower the sale price, the more it concerns us. We note that this sale took place at around the current price, so it isn't a major concern, though it's hardly a good sign.
In total, Quebecor insiders sold more than they bought over the last year. The chart below shows insider transactions (by individuals) over the last year. If you want to know exactly who sold, for how much, and when, simply click on the graph below!
I like to look at how many shares insiders own in a company, to help inform my view of how aligned they are with insiders. We usually like to see fairly high levels of insider ownership. Insiders own 0.8% of Quebecor shares, worth about CA$64m. While this is a strong but not outstanding level of insider ownership, it's enough to indicate some alignment between management and smaller shareholders.
What Might The Insider Transactions At Quebecor Tell Us?
Insiders haven't bought Quebecor stock in the last three months, but there was some selling. Zooming out, the longer term picture doesn't give us much comfort. On the plus side, Quebecor makes money, and is growing profits. Insider ownership isn't particularly high, so this analysis makes us cautious about the company. We'd think twice before buying! If you are like me, you may want to think about whether this company will grow or shrink. Luckily, you can check this free report showing analyst forecasts for its future.
Of course, you might find a fantastic investment by looking elsewhere. So take a peek at this free list of interesting companies.
For the purposes of this article, insiders are those individuals who report their transactions to the relevant regulatory body. We currently account for open market transactions and private dispositions, but not derivative transactions.
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