One agricultural commodity streaming company has seen intensive insider buying during the last 30 days. Intensive insider buying can be defined by the following three criteria:
- The stock is purchased by three or more insiders within one month.
- The stock is sold by no insiders in the month of intensive purchasing.
- At least two purchasers increase their holdings by more than 10%.
Input Capital Corp. (INPCF, Financial) operates as an agricultural commodity streaming company in Canada.
(Source: Investor presentation)
Insider Buying During the Last 30 Days
Here is a table of Input’s insider activity during the last 30 days.
| Name | Title | Trade Date | Shares Purchased | Prospectus | Current Ownership | Increase InShares |
| James Burgess | Director of Finance & Administration | July 9 | 15,000 | Yes | 67,630 shares | +28.5% |
| Doug Emsley | CEO | July 9 | 144,627 | Yes | 10,823,573 shares | +1.4% |
| Brad Farquhar | CFO | July 9 | 48,545 | Yes | 2,445,662 shares | +2.0% |
| Patricia Warsaba | Senior Officer | July 9 | 10,800 | Yes | 29,550 shares | +57.6% |
There have been 218,972 shares purchased by insiders during the last 30 days. All of these shares were purchased pursuant to a bought deal offering.
Insider Buying by Calendar Month
Here is a table of Input’s insider activity by calendar month.
| Month | Insider buying / shares | Insider selling / shares |
| July 2014 | 218,972 | 0 |
| June 2014 | 0 | 0 |
| May 2014 | 0 | 0 |
| April 2014 | 0 | 0 |
| March 2014 | 0 | 0 |
| February 2014 | 0 | 0 |
| January 2014 | 0 | 0 |
| December 2013 | 0 | 0 |
| November 2013 | 0 | 0 |
| October 2013 | 466,787 | 0 |
| September 2013 | 0 | 0 |
| August 2013 | 0 | 0 |
| July 2013 | 0 | 0 |
There have been 685,759 shares purchased and there have been zero shares sold by insiders since July 2013. Input’s shares started trading on the TSX Venture Exchange in July 2013.
Financials
Input reported the fiscal 2014 full-year, which ended March 31, financial results on May 27 with the following highlights:
| Revenue | C$5.1 million |
| Net loss | C$4.1 million |
| Adjusted EBITDA | C$409,660 |
| Cash | C$30.4 million |
| Debt | C$0 |
On July 9, Input closed a C$40.3 million offering.
Competition
To management’s knowledge, Input Capital is the world’s only agricultural commodity streaming company.
(Source: Investor presentation)
Conclusion
There have been four different insiders buying Input and there have not been any insiders selling Input during the last 30 days. Two of these four insiders increased their holdings by more than 10%. Input has an insider ownership of 25.5%.
(Source: Investor presentation)
The four insiders purchased their shares at $2.16 (C$2.30). I believe Input could be a good pick below $2.16 based on the intensive insider buying.
(Source: Investor presentation)
Disclosure: The author has no positions in any stocks mentioned.
