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

Oil storage tanks stand at the Enbridge Inc. Cushing storage terminal in Cushing, Okla., in 2015.

Daniel Acker/Bloomberg

Featured below are companies that have experienced recent insider buying and selling 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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Enbridge Inc.(ENB-T)

On June 12, László Varsányi, vice-president of New Ventures - Power at Enbridge, purchased 1,000 shares at an average cost per share of $51.75, increasing the portfolio's holdings to 3,484 shares.

Saputo Inc. (SAP-T)

On June 14, board member Diane Nyisztor doubled her ownership position with the purchase of 1,000 shares at an average price per share of $41.93, increasing her portfolio's position to 2,000 shares.

Last week, we reported that three insiders were buyers in the market.

In a relatively small trade, on June 7, Carl Colizza, president and chief operating officer of the Canadian dairy division, purchased 690 shares priced at over $43 per share. This transaction lifted his portfolio's holdings to 13,901 shares.

The prior day, Annalise King, who sits on the board of directors, accumulated 3,000 shares, initiating a portfolio position, and fellow board member Annette Verschuren purchased 1,000 shares at an average cost of $43.03 per share, raising her portfolio's holdings to 8,000 shares.

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Recent insider selling activity has occurred in the following companies.

Aurora Cannabis Inc. (ACB-X)

President and founder Steve Dobler sold 1-million shares at an average price per share of $2.2175 on June 9, reducing this account's share balance to just over 15-million shares.

In addition, board member Michael Singer exercised his options on June 5, receiving 100,000 shares, and by the end of the week, he had sold 100,000 shares, leaving a remaining portfolio balance of 46,329 shares.

Fortis Inc. (FTS-T)

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On June 9, Albert Ernst, who sits on the board of directors at ITC Holdings Corp, a Fortis company, sold 1,280 shares at an average price of approximately $33.52 (U.S.) per share, reducing his portfolio's position to 8,684 shares.

Granite Oil Corp. (GXO-T)

On June 13, chief financial officer Gail Hannon sold 25,000 shares, taking her portfolio's holdings down to 177,862 shares. That day, Tyler Klatt, vice-president of exploration, divested 4,000 shares at an average price per share of $4.65, reducing his portfolio position to 104,711 shares.

Methanex Corp. (MX-T)

On June 9, Paul Hexter, commercial president at Waterfront Shipping Company Ltd., a wholly owned subsidiary of Methanex, sold 2,000 shares at an average price per share of $55.75, taking his ownership position down to 2,434 shares.

Stella-Jones Inc. (SJ-T)

On June 13, board member Mary Webster sold 10,000 shares, reducing her ownership position to 27,600 shares.

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The following company has experienced mixed trading with a combination of insider buying and selling activities.

Osisko Gold Royalties Ltd. (OR-T)

On June 15, three insiders accumulated shares in the market.

President Bryan Coates purchased 5,000 shares at an average price of $16.05 on June 15, taking his ownership position up to 121,548 shares.

Joseph de la Plante, vice-president of corporate development, acquired 1,200 shares at an average price of $16.20, raising his portfolio's position to 3,308 shares.

Christopher Curfman, who sits on the board of directors, bought 3,000 shares, initiating a portfolio position.

The previous day, director John Burzynski trimmed his portfolio by 10,000 shares at an average price of $16.57 per share, reducing his holdings to 84,105 shares.

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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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