goeasy Ltd T.GSY

Insider buying

[Torontojay]

A total of 13,459 shares have been purchased this month alone which given today's price has an approximate market value of $ 1.8m.

[thinkyourmoney]

And don't forget the share buyback should be going on while the price is beaten down like what is currently happening.  If the program is buying at the maximum daily target, over 600,000 shares could possibly have been bought back by now.  It will be interesting to learn what the actual numbers are in the next earnings report.

[cpeczek]

You can check them on SEDI, they file usually every day. They have been spending 2 million a day practically every day the last month. The more the price goes down the more shares they are acquiring

[thinkyourmoney]

15,706 per day is the maximum allowable = 2 million dollars a day.  At peak price that buy rate would have cost 3 million per day.   I don't know how this all works but at this rate I can't see this 2021 - 2022 buy back not achieving its goal of buying back the targeted 1.2 million shares. Note the 2020 buyback target was not fulfilled.  The price took off and the

[cpeczek]

That actually explains a lot. I didn't look at their buy back target but they have been buying all quarter. As an example they bought back 13,406 shares at $158 on January 10 for $2.1 million dollars. Recently they have been buying back 15,706 shares for $1.8-$1.9 million and seemed to stop. That makes sense it's the limit. I went back and added up all the shares they bought this quarter

[thinkyourmoney]

Since this previous discussion, 24 trading days have passed. That means that GSY had the opportunity to buy 377,000 shares back at much less than the prices we looked at it back in the winter.  With the 300,000 already bought (plus those bought back in Q4 2021) the buyback should be at least half done by now.   I had a look at the valuation analysis of this stock and it just does

[cpeczek]

I agree with your assessment in valuation! I went back to the insider filings to check it out. GSY is cool because they file immediately when buying occurs. Most companies report monthly. They haven't been buying every day unfortunately. The last time I posted they had 280k shares bought in Q1 and they inexplicably stopped on March 17. No additional shares were bought. They started buying

[extremerisk]

Thanks for that info cpeczek.   Very well run professional company.  There are not many companies that provide guidance and meet or exceed it for 20 years running!   Extreme returns in a business with little competition.  Noticed on LinkedIn they are holding a hiring fair this weekend as they have extreme shortage of staff due to fast growing business