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 securities that have had recent buying activity in the public market reported by insiders.
Bonterra Resources Inc. (BTR-X)
Between May 6-10, president and chief executive officer Marc-Andre Pelletier acquired a total of 100,000 shares at an average cost per share of approximately $1.10, increasing this specific account’s holdings to 300,000 shares. The cost of these purchases totaled nearly $110,000.
Minto Apartment REIT (MI-UN-T)
On May 9, president and chief operating officer Jonathan Li invested nearly $700,000 in units of Minto. He bought 39,300 units at a price per unit of $17.769, initiating a position in this specific account.
In April, Mr. Li was appointed to his position as the president and chief operating officer of Minto. Prior to joining the REIT, he worked at BMO Capital Markets.
On May 9, lead trustee Allan Kimberley bought a total of 25,000 units at an average price per unit of roughly $17.70 for multiple accounts. The cost of these purchases exceeded $442,000.
Slate Office REIT (SOT-UN-T)
On May 12 and 13, Sime Armoyan, with an ownership position exceeding 10 per cent, purchased a total of 218,700 units at an average price per unit of approximately $4.80 for an account in which she has control or direction over (Armco Alberta Inc.), increasing this particular account’s position to 8,315,600 units. The cost of these purchases totaled over $1-million.
Over the past 52 weeks, units of Slate Office REIT have traded largely between $4.50 and $5.50, and are currently in the middle of this trading range.
The REIT pays its unitholders a monthly distribution of 3.33 cents per trust unit or 40 cents per unit yearly, equating to a current annualized yield of over 8 per cent.
According to Refinitiv, the REIT has two buy recommendations and seven neutral recommendations with an average 12-month target price of $5.30.
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Listed below is a stock that has had recent selling activity in the public market reported by an insider.
Pembina Pipeline Corp. (PPL-T)
On May 9, interim chief financial officer Cam Goldade exercised his options, receiving a total of 20,720 shares at an average cost per share of approximately $45.23, and sold 20,720 shares at an average price per share of roughly $50.28, after which this particular account did not hold any shares. Net proceeds exceeded $104,000, not including any associated transaction fees.
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Jennifer Dowty