- Four insiders purchased New Flyer stock within one month.
- The stock was sold by no insiders in the month of intensive purchasing.
- Three of these four insiders increased their holdings by more than 10%.
New Flyer Industries (OTC:NFYEF) engages in the manufacture and sale of heavy-duty transit buses for public transportation in the United States and Canada.
Insider buying during the last 30 days
Here is a table of New Flyer's insider activity during the last 30 days.
|Name||Title||Trade Date||Shares Purchased||Current Ownership||Increase In Shares|
|Patricia Jacobsen||Director||March 27||3,060||24,770 shares||+14.1%|
|Wayne Joseph||EVP||March 25||525||17,463 shares||+3.1%|
|Wayne McLeod||Director||March 24||2,300||24,500 shares||+10.4%|
|Brian Tobin||Chairman||March 25||30,000||84,700 shares||+54.8%|
There have been 35,885 shares purchased by insiders during the last 30 days.
Insider buying by calendar month
Here is a table of New Flyer's insider activity by calendar month.
|Month||Insider buying / shares||Insider selling / shares|
There have been 6,731,240 shares purchased, and there have been 259,602 shares sold by insiders since January 2013.
New Flyer reported the full-year 2013 financial results on March 19 with the following highlights:
|Net income||$26.8 million|
The four insiders purchased their shares after these results.
New Flyer's management anticipates that 2014 first-quarter adjusted EBITDA will be significantly less than 2013 fourth quarter (and is likely to be lower than 2013 first-quarter adjusted EBITDA) as a result of several factors, including the number of deliveries in the quarter is expected to be approximately 100 EUs lower than the 635 EUs delivered in 2013 fourth quarter and the impact of lower margins due to the competitive bidding environment.
The competitive landscape of the industry in the United States and Canada is limited to three major competitors: New Flyer, Gillig Corporation, and NOVA Bus Inc.
There have been four different insiders buying New Flyer, and there have not been any insiders selling New Flyer during the last 30 days. Three of these four insiders increased their holdings by more than 10%.
The four insiders purchased their shares at prices ranging from $10.05 (C$11.16) to $10.30 (C$11.43). I believe New Flyer could be a good pick below $10.30 based on the intensive insider buying.
Disclosure: I have no positions in any stocks mentioned, but may initiate a long position in NFYEF over the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.