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 is a stock that has had recent buying activity in the public market reported by the CFO.
Cenovus Energy Inc. (CVE-T)
Between Sept. 6-11, executive vice-president and chief financial officer Kam Sandhar acquired a total of 10,000 shares at an average price per share of approximately $22.485 for an account in which he has control or direction over (The Sandhar Family Trust), increasing the holdings in this specific account to 20,000 shares. The cost of these purchases totaled more than $224,000.
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The following three bank stocks have had recent selling activity in the public market reported by insiders.
Bank of Montreal (BMO-T)
On Sept. 5, chief technology and operations officer Steve Tennyson exercised his options, receiving 7,908 shares at a cost per share of $78.09, and sold 7,908 shares at a price per share of $112.162 with 21,866 shares remaining in this particular account. Net proceeds totaled more than $269,000, not including any associated transaction charges.
Canadian Imperial Bank of Commerce (CM-T)
On Sept. 9, senior executive vice-president and group head of capital markets and direct financial services Harry Culham exercised his options, receiving 50,000 shares at a cost per share of $55.845, and sold 50,000 shares at a price per share of $81.87 after which this specific account held 3,354 shares. Net proceeds totaled more than $1.3 million, not including any associated transaction fees.
Royal Bank of Canada (RY-T)
Between Sept. 4-9, deputy chair Doug Guzman exercised his options, receiving a total of 81,944 shares at an average cost per share of approximately $98.576, and sold 81,944 shares at an average price per share of roughly $164.53 leaving 25 shares in this particular account. Net proceeds exceeded $5.4 million, excluding any associated transaction fees.
Mr. Guzman is the former group head of RBC wealth management and insurance.
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