Insider Buying: MCAN Mortgage Co. (TSE:MKP) Director Buys C$15,783.84 in Stock

MCAN Mortgage Co. (TSE:MKP) Director Ian Sutherland purchased 1,017 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of C$15.52 per share, with a total value of C$15,783.84. Following the purchase, the director now directly owns 2,340,000 shares of the company’s stock, valued at C$36,316,800.

MKP stock opened at C$15.54 on Wednesday. MCAN Mortgage Co. has a 1-year low of C$12.21 and a 1-year high of C$19.46. The business has a fifty day moving average price of C$15.88 and a 200-day moving average price of C$15.61. The company has a debt-to-equity ratio of 267.17, a current ratio of 1.67 and a quick ratio of 1.62. The stock has a market capitalization of $382.69 million and a P/E ratio of 9.82.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 13th will be given a dividend of $0.32 per share. This represents a $1.28 dividend on an annualized basis and a yield of 8.24%. The ex-dividend date is Thursday, September 12th. MCAN Mortgage’s dividend payout ratio (DPR) is presently 84.02%.

Separately, National Bank Financial boosted their price target on MCAN Mortgage from C$14.00 to C$15.00 and gave the stock an “underperform” rating in a research note on Friday, August 9th.

About MCAN Mortgage

MCAN Mortgage Corporation operates as a mortgage investment corporation in Canada. The company offers single-family residential mortgages, as well as residential construction, non-residential construction, and commercial loans, as well as real estate and securitization investments. It also provides term deposits through a network of independent financial agents.

See Also: Moving Average (MA)

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