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 buying activity in the public market reported by insiders.
CI Financial Corp. (CIX-T)
On Feb. 3-4, chairman of the board Bill Holland invested over $2.3-million in shares of this dividend stock. He acquired a total of 100,000 shares at an average price per share of approximately $23.74 for an account in which he has indirect ownership (WH Corp.), increasing this particular account’s position to 1,175,000 shares.
Mr. Holland is the company’s former chief executive officer.
CI pays its shareholders a quarterly dividend of 18 cents per share or 72 cents per share yearly, equating to a current annualized yield of 3.2 per cent.
Shares of CI are in oversold territory with a relative strength index (RSI) reading of 30. Generally, an RSI reading at or below 30 reflects an oversold condition.
Dye & Durham Ltd. (DND-T)
On Feb. 4, director Dave MacDonald bought 3,300 shares at a price per share of $29.4958, lifting this particular account’s position to 9,900 shares. The cost of this purchase exceeded $97,000.
Mr. MacDonald also sits on Softchoice Corp.’s (SFTC-T) board of directors and is the former chief executive officer of Softchoice.
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Listed below are two securities that have had recent selling activity in the public market reported by insiders.
Richelieu Hardware Ltd. (RCH-T)
Between Feb. 1-3, president and chief executive officer Richard Lord exercised his options, receiving a total of 147,400 shares at an average cost per share of approximately $20.51, and sold 147,400 shares at an average price per share of roughly $49.34 with 4,216,809 shares remaining in this particular account. Net proceeds exceeded $4.2-million, not including any associated transaction charges.
Suncor Energy Inc. (SU-T)
On Feb. 9, chief people officer Paul Gardner exercised his options, receiving 50,000 shares at a cost per share of $30.21, and sold 50,000 shares at a price per share of $36.789, after which this specific account did not hold any shares. Net proceeds totaled roughly $329,000, not including any associated transaction fees.
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Jennifer Dowty