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 or perhaps shares may be sold to address tax implications when options and rights are exercised. 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. In addition, I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units. Furthermore, it can be of value to note if an insider’s share or unit balance (investment in the company) is trending higher or lower.
Listed below are two stocks that have had recent buying activity in the public market reported by insiders.
Equitable Group Inc. (EQB-T)
On May 20, Stephen Smith, with an ownership position exceeding 10 per cent, invested over $3-million in shares of Equitable. He bought 50,000 shares at a price per share of $60.226 for an account in which he has indirect ownership (Smith Financial Corp.), increasing this specific account’s holdings to 6,498,200 shares.
Mr. Smith is also the co-founder and executive chairman of First National Financial Corp. (FN-T).
The company pays its shareholders a quarterly dividend of 29 cents per share or $1.16 per share yearly, equating to a current annualized yield of approximately 1.9 per cent. This is the second dividend increase announced by the company in 2022.
According to Refinitiv, the stock has six buy recommendations and one “sector perform” recommendation (from Scotiabank’s Meny Grauman). Target prices range from $80 to $91. The average target price is $84.64, implying a potential price return of nearly 36 per cent over the next year.
MDA Ltd. (MDA-T)
On May 13, director Louis Vachon invested nearly $220,000 in shares of MDA. He acquired a total of 25,000 shares for two accounts at an average price per share of approximately $8.79, after which one account held 85,000 shares and a different account held 10,000 shares.
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Listed below are three stocks that have had recent selling activity in the public market reported by insiders.
Capital Power Corp. (CPX-T)
On May 17, senior vice-president, chief strategy and sustainability officer Kate Chisholm exercised her options, receiving 6,000 shares at a cost per share of $17.33, and sold 6,000 shares at a price per share of $44.723, leaving 24,549 shares in this particular account. Net proceeds exceeded $164,000, excluding any associated transaction charges.
Previously, we reported that on May 9, senior vice-president of operations Bryan DeNeve exercised his options, receiving 20,000 shares at a cost per share of $30.78, and sold 20,000 shares at an average price per share of approximately $43.90, after which this particular account did not hold any shares. Net proceeds totaled over $262,000, not including any associated transaction fees.
Suncor Energy Inc. (SU-T)
On May 20, Shelley Powell, senior vice-president – E&P and In Situ, exercised her options, receiving 40,000 shares at a cost per share of $30.21, and sold 40,000 shares at a price per share of $48.9861 with 23,217 shares remaining in this particular account. Net proceeds exceeded $751,000, excluding any associated transaction fees.
On May 17, chief transformation officer Bruno Francoeur exercised his options, receiving 35,000 shares at a cost per share of $30.21, and sold 35,000 shares at a price per share of $48.90, leaving 8,000 shares in this particular account. Net proceeds totaled over $654,000, not including any associated transaction charges.
Vermilion Energy Inc. (VET-T)
On May 19, vice-president of Geosciences Geoff MacDonald divested 5,000 shares at a price per share of $25, reducing this specific account’s holdings to 9,632 shares. Proceeds from the sale totaled $125,000, excluding commission charges.
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Jennifer Dowty