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 three stocks that have had recent buying activity in the public market reported by insiders.
Calibre Mining Corp. (CXB-T)
Between Oct. 2-4, president and chief executive officer Darren Hall bought a total of 105,000 shares at an average cost per share of roughly $1.25, increasing this specific account’s holdings to 2,184,934 shares. The cost of these purchases exceeded $130,000.
CI Financial Corp. (CIX-T)
Between Sept. 28-Oct. 4, chairman of the board Bill Holland invested over $655,000 in shares of CI Financial. He acquired a total of 43,000 shares at an average price per share of approximately $15.23 for an account in which he has indirect ownership (WH Corp.), after which this account held 2,436,000 shares.
Mr. Holland is the company’s former chief executive officer.
Morguard North American Residential REIT (MRG-UN-T)
Between Sept. 26-28, Bruce Robertson, who sits on the board of trustees, bought a total of 23,800 units at an average price per unit of roughly $14.69 for an account in which he has indirect ownership (5051326 Ontario Inc.), increasing this specific account’s position to 23,800 units. The cost of this investment exceeded $349,000, not including trading fees.
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The following security has had recent selling activity in the public market reported by insiders.
Canadian Natural Resources Ltd. (CNQ-T)
On Sept. 28, vice-president – facilities and pipelines Roy Roth exercised his options, receiving 5,000 shares at a cost per share of $29.32, and sold 5,000 shares at a price per share of $90.333, after which this particular account held 34,606 shares. Net proceeds totaled over $305,000, not including any associated transaction charges.
On Sept. 27, director Steve Laut sold a total of 384,000 shares at an average price per share of approximately $88.91, reducing this specific account’s holdings to 842,584 shares. Proceeds totaled over $34-million, excluding trading fees.
Previously, we reported that on Sept. 28, president Tim McKay exercised his options, receiving 40,000 shares at a cost per share of $35.27, and sold 40,000 shares at a price per share of $89.1807 with 1,199,195 shares remaining in this particular account. Net proceeds exceeded $2.1 million, excluding any associated transaction charges.
Editor’s note: An earlier version of this story stated Bruce Robertson had sold Morguard North American Residential REIT. In fact, he has purchased units. This version has been corrected.
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