Insider Selling: StorageVault Canada Inc. (TSE:SVI) Director Sells 30,000 Shares of Stock

StorageVault Canada Inc. (TSE:SVI) Director Benjamin Harris sold 30,000 shares of the firm’s stock in a transaction on Monday, May 5th. The shares were sold at an average price of C$3.78, for a total value of C$113,439.00.

StorageVault Canada Stock Down 3.1 %

TSE:SVI opened at C$3.75 on Tuesday. StorageVault Canada Inc. has a 52 week low of C$3.53 and a 52 week high of C$5.26. The stock’s fifty day moving average is C$3.83 and its two-hundred day moving average is C$3.93. The stock has a market capitalization of C$1.38 billion, a price-to-earnings ratio of -27.29 and a beta of 0.89.

StorageVault Canada Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 15th were issued a dividend of $0.0029 per share. This represents a $0.01 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date was Monday, March 31st. StorageVault Canada’s dividend payout ratio (DPR) is -7.28%.

Wall Street Analyst Weigh In

SVI has been the topic of several research reports. Desjardins decreased their price target on shares of StorageVault Canada from C$4.75 to C$4.25 and set a “hold” rating on the stock in a research note on Monday, April 28th. Raymond James boosted their target price on StorageVault Canada from C$4.70 to C$4.75 and gave the stock an “outperform” rating in a report on Thursday, April 24th. Canaccord Genuity Group raised StorageVault Canada from a “hold” rating to a “buy” rating and cut their price target for the company from C$5.00 to C$4.50 in a report on Monday, February 24th. Scotiabank dropped their target price on StorageVault Canada from C$5.50 to C$5.25 in a report on Thursday, January 30th. Finally, CIBC dropped their price target on shares of StorageVault Canada from C$4.75 to C$4.25 in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of C$5.13.

About StorageVault Canada

StorageVault Canada Inc is engaged in the business of owning, operating, and leasing storage to individual and commercial customers across Canada. The company operates through three segments. Its Self Storage segment consists of renting space at the company’s property for short or long-term storage which also includes space for storing vehicles and use for small commercial operations.