Featured Chart: Insiders unload even as Canadian Pacific Kansas City lags
In our latest Globe and Mail Who is Buying and Selling feature published this weekend, we looked at railroad giant Canadian Pacific Kansas City (CP) where insiders have been taking profits. This may not come as a big surprise to regular visitors to the Canadianinsider.com home page as CP shows up as one of the stocks on the TSX with the most insider selling.
Canadian Pacific Kansas City insider chart from the Morning INK report
We highlighted insider activity over the past six months, both in the paper and in the original morning report when we featured Canadian Pacific Kansas City for community members on August 23rd. In the report, we explained why the stock was showing up towards the bottom of our INK Edge screens, saying:
Over the past six months, the stock is down 5.9% versus (positive) 8.6% for the INK CIN Index. Despite the lacklustre relative performance, insiders have been taking profits over the past six months. The selling, combined with relatively weak price momentum and relatively expensive valuations, has left the stock in the bottom 30% of our rankings.
You can find out more about our INK Edge quantitative process in our short video explainer found in the Canadian Insider FAQ.
Canadian Insider Top Buys and Sells (Club members click to be taken to the Top 20 )
We cannot help but wonder if investors remain too optimistic about the prospects of economy-sensitive CP over the next year. In the August 23rd morning report, we explain why. If you are not an Ultra Club member, join us today to access the report and have future reports emailed to you before the open of every trading day.
Learn more about using insider data and the benefits of Club membership here >>.
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