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Monday’s Insider Report: Companies insiders are buying and selling

Steam generators at Cenovus's Foster Creek project in northern Alberta.

Hand-out/CENOVUS ENERGY INC.

Featured below are companies that have experienced recent insider buying activity in the public market through their direct and indirect ownerships.

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.

Let's begin the report detailing companies with buying activity.

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AGT Food and Ingredients Inc. (AGT-T)

On July 5, three management executives completed relatively small transactions. The president and chief executive officer Murad Al-Katib acquired 1,401 shares at an average cost per share of $22.7496, taking his portfolio's position up to 572,689 shares. Gaetan Bourassa, the firm's chief operating officer, purchased 742 shares, lifting his portfolio's holdings to 50,173 shares, and Lori Ireland, the company's chief financial officer, bought 276 shares, increasing her portfolio's holdings to 62,157 shares.

Cenovus Energy Inc. (CVE-T)

On July 6, the firm's chief financial officer Ivor Ruste purchased 10,000 shares at an average cost of $9.16 per share, lifting his ownership position to 56,764 shares.

Kelt Exploration Ltd. (KEL-T)

On July 4, Robert Dales, who sits on the board of directors, bought 5,000 shares at an average price of $6.3145 per share, increasing his portfolio's sizeable position to 1,764,255 shares.

Melcor Real Estate Investment Trust (MR.UN-T)

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On July 4, the president and chief executive officer Andrew Melton purchased a total of 5,800 units at an average cost of $8.8974 per unit for two accounts where he is an indirect beneficial owner.

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The following company has had recent selling activity.

Stantec Inc. (STN-T)

Carl Clayton, the executive vice-president – international, has been trimming his holdings. On July 6, he sold 2,500 shares at an average price of $31.1244 per share. The prior day, he pared 4,000 shares from his portfolio, and on July 4, he sold 3,500 shares. After these trades, his portfolio held 30,355 shares.

Follow me on Twitter at @jennifer_dowty to receive links to all my insider reports

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About the Author
Equities analyst

Jennifer Dowty, CFA, is an equities analyst at The Globe and Mail. She has approximately 18 years of experience working in the financial industry, 14 of those years were at Manulife Asset Management, where she worked her way up to become an Equities Portfolio Manager. More

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