ECN Capital Corp T.ECN

Hudson back on the buy!

[snootchybootchy]

Hudson purchased 300,000 shares today! Total purchase price of $537k.

[Blueswin]

Thank you for posting this! It is encouraging going forward. Would Hudson be buying more if he wasn't hopeful about the future of the company? Hopefully they can build the company out without too many more set backs.

[Cheeky20]

i get where you are coming from but hes been buying since the 5's.  yes insider buying projects confidence in the company and maybe its undervalued here but his buying hasn't arrested the stock decline...

[snootchybootchy]

Yes, you're right that Hudson's buys have not helped the stock's performance this year but it aligns his incentives with the interest of us shareholders. These purchases mean he will either stay put as CEO until the business recovers or, if he is indeed looking for an exit, these share purchases ensure that Hudson is incentivized to maximize value for all of us. 

[pierrelebel]

If Hudson is willing to buy the common shares at current level, it means I should add to my holdings of preferred shares (ECN.PR.C) currently yielding over 13%. As ECN recovers and interest rates fall, the yield will drop to 8%/9% resulting in the preferred jumping to $18/$20 later this year. Great (tax advantaged) yield with substantial capital gain, how can one resist?

[scarface9]

I only own the preferreds. I loaded up at $13 for 15.25% yield. If fools take it back down there I'm adding more. 

[CanSiamCyp]

Hey Pierre! Like you, I assumed that adding ECN.PR.C at current prices was a no brainer ... so added another 1,000 shares this week. However, I have now hit 2% of our portfolio in this pref issue and think that common sense dictates caution going any further ... despite the significant positive potential. Cheers!

[CrazyTrader]

CanSiamCyp.... what a pigeon.... going around bashing people...   I guess I'll do as you and return negative post .

[snootchybootchy]

Hudson purchased another 200,000 shares today.  Here is the overall tally of his insider purchases in just the last 8 months: Total Shares Purchased: 2,250,000 Total Cost of Shares Purchased: $4,734,425 Average Price Per Share: $2.10

[snootchybootchy]

Another big purchase today from Mr. Hudson!  Here is the updated tally from August 1, 2023 to March 28, 2024. Total Shares Purchased: 2,450,000 Total Cost of Shares Purchased: $5,148,464 Average Price Per Share: $2.10  

[pierrelebel]

"... so added another 1,000 shares this week..." Like you I added 1,000 ECN.PR.C Monday last week at $15.40.  Got lucky with the timing! Expect to see $20.00 (10% yield) later this year.

[snootchybootchy]

Wow. Lots of CEOs of Canadian small cap companies get crazy praise when they spend a few thousand dollars on insider purchases. But Hudson literally spends hundreds of thousands to millions of dollars when he makes his buys. Breathtaking.

[snootchybootchy]

Image did not paste correctly.  Trying it again.

[snootchybootchy]

Filed 2024-03-26 14:42   Tx date 2024-03-26 $ECN ECN Capital Corp. Hudson, Steven Kenneth 4 - Director of Issuer, 5 - Senior Officer of Issuer Direct Ownership Common Shares 10 - Acquisition or disposition in the public market $539,100 +300,000 vol $1.80 each 13,599,219