Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.
The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.
Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock’s valuation; perhaps an insider needs to raise money for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units.
Listed below are two stocks that have had recent buying activity reported by insiders.
New Found Gold Corp. (NFG-X)
Between Sept. 13 and 15, Eric Sprott, with an ownership position exceeding 10 per cent, bought a total of 115,000 shares in the public market at an average cost per share of approximately $7.93 for an account in which he has indirect ownership (2176423 Ontario Ltd.). The cost of these purchases exceeded $911,000.
In early-June, the share price was over $13. Since then, the stock price has tumbled nearly 40 per cent.
Skeena Resources Ltd. (SKE-T)
On Sept. 24, Greg Beard, who sits on the company’s board of directors, invested over US$245,000 in shares of Skeena. He acquired 25,000 shares at a cost per share of US$9.8246, increasing this particular account’s position to 96,892 shares.
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Listed below are three stocks that have had recent selling activity reported by insiders.
Converge Technology Solutions Corp. (CTS-T)
On Sept. 14, chief operations officer Cory Reid sold 150,000 shares at a price per share of $12.16, after which this specific account held 262,677 shares. Proceeds from the sale totaled over $1.8-million, excluding trading fees.
Previously, we reported that on Sept. 10, president Greg Berard divested 400,000 shares at a price per share of $12.37, reducing this particular account’s holdings to 123,057 shares. Proceeds from the sale exceeded $4.9-million, not including commission charges.
Intertape Polymer Group Inc. (ITP-T)
On Sept. 15, Dean Blockowitz, vice-president of sales for the industrial channel, sold 26,222 shares at a price per share of US$23.10 with 25,031 shares remaining in this specific account. Proceed totaled over US$605,000, excluding commission fees.
Open Text Corp. (OTEX-T)
On Sept. 15, director Randy Fowlie sold 8,500 shares at a price per share of US$52.74 for an account in which he has indirect ownership (Armour Stone Capital Ltd.), trimming this particular account’s holdings to 185,500 shares. Proceeds from the sale exceeded US$448,000, not including commission charges.
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