Callidus Capital Corp (CBL) Shares Up 6% on Insider Buying Activity

Shares of Callidus Capital Corp (TSE:CBL) rose 6% on Tuesday after an insider bought additional shares in the company. The stock traded as high as C$11.14 and last traded at C$11.05. Approximately 43,005 shares changed hands during trading, a decline of 33% from the average daily volume of 64,118 shares. The stock had previously closed at C$10.42.

Specifically, insider Joseph C. Lewis bought 9,700 shares of Callidus Capital Corp stock in a transaction dated Friday, October 20th. The shares were purchased at an average cost of C$9.83 per share, for a total transaction of C$95,351.00. Also, insider Joseph C. Lewis bought 19,000 shares of Callidus Capital Corp stock in a transaction dated Friday, October 27th. The stock was acquired at an average price of C$10.15 per share, for a total transaction of C$192,850.00. Over the last quarter, insiders acquired 40,700 shares of company stock worth $407,596.

CBL has been the subject of a number of recent analyst reports. National Bank Financial cut shares of Callidus Capital Corp from an “outperform” rating to a “sector perform” rating and dropped their price target for the stock from C$18.00 to C$11.00 in a research note on Thursday, August 17th. Canaccord Genuity dropped their price target on shares of Callidus Capital Corp from C$13.50 to C$11.50 in a research note on Monday, August 14th.

The company has a 50-day moving average price of $10.32 and a 200-day moving average price of $13.41. The stock’s market capitalization is $555.87 million.

The business also recently declared a monthly dividend, which was paid on Friday, October 20th. Shareholders of record on Friday, September 29th were given a dividend of $0.10 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 11.52%. The ex-dividend date was Thursday, September 28th.

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About Callidus Capital Corp

Callidus Capital Corporation (Callidus) is a Canada-based company, which is engaged in providing financing solutions for companies that are unable to obtain financing from lending institutions. The Company operates a finance business that provides senior secured asset-based loans and lending services to mid-market companies operating in Canada and the United States.

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