Q: Empire Chief Operating Officer Pierre St-Laurent Sells 100% Of Holding. This is a headline I read yesterday.
Insiders are selling because of a variety of issues. However, rarely a COO eliminates 100% of his position.
Do you see a specific company issue for this sale? Are you comfortable with holding this security?
Thank you as always for your guidance ?
Insiders are selling because of a variety of issues. However, rarely a COO eliminates 100% of his position.
Do you see a specific company issue for this sale? Are you comfortable with holding this security?
Thank you as always for your guidance ?
5i Research Answer:
Usually the complete exit of shares by an executive is precursor to a departure. Selling ALL of one's shares does not look good around the boardroom table. But the stock is outperforming the market, is cheap at 12X earnings, and we do not see anything unusual in terms of fundamental concerns. The usual issues of labour, inflation and government price controls apply. We would be fairly comfortable holding EMP.A