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File photo of CN Rail.

Selling activity by insiders has occurred across various sectors, with no dominant selling activity in one particular segment of the market.

Listed below are 12 companies that have experienced recent insider selling activities in the public market through their direct and indirect ownership positions.

Keep in mind, when looking at transaction activities by insiders, selling activity may or may not be related to a stock's valuation; perhaps an insider needs to raise money for personal reasons. Furthermore, 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 selling a company's shares.

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Aphria Inc. (APH-X)

Co-founder Cole Cacciavillani sold 1 million shares on March 1 at a price of $6.50 per share.

Boardwalk Real Estate Investment Trust (BEI.UN-T)

Trustee James DeWald sold 1,234 units at a price of $44.01 per unit on Feb. 24.

Brookfield Asset Management Inc. (BAM.A-T)

Board member Jack Cockwell sold 200,000 shares at a price of $48.00 per share on Feb. 27.

Canadian National Railway Co. (CNR-T)

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Mike Cory, the company's chief operating officer, sold 1,139 shares at a price of $95.11 on Feb. 23.

CRH Medical Corp. (CRH-T)

Tony Holler, the chairman of the board, sold 500,000 shares at a price of $9.10 per share on the final trading day of February. That same day, Ian Webb, who sits on the board of directors, sold 30,000 shares at a price of $9.194 per share, and fellow board member, David Johnson, reduced his portfolio holdings by 25,000 shares on March 3.

FirstService Corp. (FSV-T)

Kevin Roy, the chief financial officer of FirstService Brands, sold 3,000 shares on Feb.24, in addition to his recent sell trades of 2,000 shares on Feb. 16 and 2,300 shares on Feb. 14.

Genworth MI Canada Inc. (MIC-T)

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On February 27, John Walker, who sits on the board of directors, sold 5,000 shares at $37.79 per share.

Gildan Activewear Inc. (GIL-T)

On March 2, Eric Lehman, the president of branded apparel, sold 22,000 shares at a$25.85 (U.S.) per share.

H&R Real Estate Investment Trust (HR.UN-T)

Trustee Edward Gilbert sold 10,000 units recently. He trimmed his holdings by 8,000 units on Feb. 28 at a price of $23.50 per unit and sold an additional 2,000 units on March 1 at $23.59 per unit.

Intact Financial Corp. (IFC-T)

Mark Tullis, the vice chairman, has been actively trimming his portfolio. On March 1, he sold 3,000 shares. The following day, he sold 1,000, shares. On March 3, he reduced his holdings by 3,000 shares, and on March 6, he sold 10,738 shares.

Kinross Gold Corp. (K-T)

Greg Etter, the senior vice president of legal, global operations, and government relations, sold 33,018 shares on February 27.

UEX Corp. (UEX-T)

Stephen Sorensen, the founder and former chief executive officer, continued to reduce his holdings, selling 1 million shares at a price of 34.01 cents per share on Feb. 27.

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About the Author
Equities analyst

Jennifer Dowty has been an investment reporter and equities analyst at The Globe and Mail since 2015. Prior to joining The Globe and Mail, she worked for approximately 18 years in the financial industry, of which nearly 14 years were at Manulife Asset Management. More

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