The Bank of Montreal Financial Group building in downtown Toronto is shown on Tuesday, January 28, 2014.Nathan Denette/The Canadian Press
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 a company with buying activity.
DREAM Unlimited Corp. (DRM-T)
On June 26, Duncan Jackman, who sits on the board of directors, purchased 10,000 shares at an average cost of $7.4466 per share, increasing his portfolio's holdings to 30,000 shares.
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The following companies have had recent selling activity.
Bank of Montreal (BMO-T)
On June 22, David Casper, the president and chief executive officer of BMO Harris Bank N.A and group head of commercial banking, exercised his options and the same day, he sold the corresponding number of shares (17,005) at an average price of $93.36 per share, reducing his portfolio's position to 2,859 shares.
Chorus Aviation Inc. (CHR-T)
On June 27, Rick Flynn, the executive vice-president and chief corporate development officer, exercised his options and sold the corresponding number of shares (67,500) at an average price per share of $7.555, leaving a remaining portfolio balance of 427,997 shares.
That same day, Jim Murphy, the vice-president of transactions and control for Chorus Aviation Capital Corp., a subsidiary of Chorus Aviation Inc., sold 1,801 shares at an average price per share of $7.57, leaving a remaining balance of 322 shares in the portfolio.
Last month, we reported that Kal Rebin, the vice-president of maintenance and engineering, was selling shares in the market. From June 14 through to June 16, he exercised his options, receiving a total of 300,000 shares. During this three day period, he sold 224,468 shares in the market, leaving a remaining portfolio balance of 109,409 shares.
Colliers International Group Inc. (CIGI-T)
On June 20, director David Beatty sold 10,000 shares, cutting the portfolio's position in half to a remaining balance of 10,000 shares.
Chris McLernon, the chief executive officer for Europe, the Middle East and Africa, sold 43,000 shares during the month of June: 27,200 shares on June 14 and 15,800 shares on June 16. After these two trades, he held 157,614 shares in the portfolio.
Computer Modelling Group Ltd. (CMG-T)
Rob Eastick, the vice-president of CoFlow, sold 5,000 shares at an average price of $10.23 on June 26. The following day, he divested an additional 15,000 shares at an average price of $10.167 per share. Post these trades, his portfolio held 108,190 shares.
Fortis Inc. (FTS-T)
On June 22, Nora Duke, the executive vice-president of corporate services and chief human resource officer, exercised her options and the same day sold the corresponding number of shares (33,688) at an average price of $46.24 per share. Her remaining portfolio's share balance was 99,612 shares.
On June 19, the firm's chief legal officer David Bennett sold 13,401 shares at an average price of $45.9902 per share, paring his portfolio's position to 19,025 shares.
Last month, we reported that Albert Ernst, who sits on the board of directors at ITC Holdings Corp, a Fortis company, sold 1,280 shares on June 9 at an average price of approximately $33.52 (U.S.) per share, reducing his portfolio's position to 8,684 shares.
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Jennifer Dowty