Insider Buying: MCAN Mortgage (TSE:MKP) Director Acquires 880 Shares of Stock

MCAN Mortgage Co. (TSE:MKP) Director Olga Giovanniello purchased 880 shares of MCAN Mortgage stock in a transaction dated Tuesday, May 12th. The shares were purchased at an average cost of C$24.31 per share, for a total transaction of C$21,392.80. Following the transaction, the director owned 1,100 shares in the company, valued at approximately C$26,741. This trade represents a 400.00% increase in their position.

Olga Giovanniello also recently made the following trade(s):

• On Tuesday, May 12th, Olga Giovanniello acquired 120 shares of MCAN Mortgage stock. The stock was acquired at an average price of C$24.26 per share, with a total value of C$2,911.20.

MCAN Mortgage Trading Down 0.8%

MKP stock traded down C$0.19 during midday trading on Tuesday, hitting C$24.30. 52,822 shares of the company’s stock were exchanged, compared to its average volume of 57,973. MCAN Mortgage Co. has a 1-year low of C$18.91 and a 1-year high of C$25.85. The stock has a market capitalization of C$989.03 million, a PE ratio of 11.97 and a beta of 0.67. The business has a 50-day simple moving average of C$23.68 and a two-hundred day simple moving average of C$22.87.

MCAN Mortgage (TSE:MKP) last announced its quarterly earnings results on Thursday, April 30th. The company reported C$0.57 EPS for the quarter. The business had revenue of C$41.60 million for the quarter. MCAN Mortgage had a return on equity of 12.71% and a net margin of 25.51%. As a group, research analysts expect that MCAN Mortgage Co. will post 2.5108359 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, Canaccord Genuity Group boosted their price target on shares of MCAN Mortgage from C$24.00 to C$26.00 and gave the company a “buy” rating in a research note on Wednesday, February 25th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of C$23.50.

MCAN Mortgage Company Profile

MCAN Financial Group is a mortgage investment company whose objective is to generate a reliable stream of income by investing its funds in a portfolio of mortgages (including single family residential, residential construction, non-residential construction and commercial loans), as well as other types of loans and investments, real estate and securitization investments. The company derives most of its revenues from mortgage income and equity income.