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 acquired at an average cost of C$24.31 per share, for a total transaction of C$21,392.80. Following the transaction, the director directly owned 1,100 shares of the company’s stock, valued at approximately C$26,741. This 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 traded down C$0.19 during trading hours on Tuesday, hitting C$24.30. 52,822 shares of the company’s stock were exchanged, compared to its average volume of 57,973. The firm has a market cap of C$989.03 million, a P/E ratio of 11.97 and a beta of 0.67. MCAN Mortgage Co. has a 12-month low of C$18.91 and a 12-month high of C$25.85. The firm has a 50 day moving average of C$23.68 and a 200 day moving average of C$22.87.

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

Analyst Ratings Changes

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

About MCAN Mortgage

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.