The new bombardier aircraft CSseries is shown in Mirabel, Quebec as it is due to take off for the first time on September 16, 2013.AFP/AFP / Getty Images
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 article 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.
Let's begin the report featuring a company that has had recent insider buying activity.
Cathedral Energy Services Ltd. (CET-T)
Despite a 161-per-cent rally in the share price year-to-date, one insider is accumulating a large number of shares in the market.
On Nov. 29, Dan Wilks, with an ownership position exceeding 10 per cent, bought 1,306,700 shares at an average cost per share of $1.7153 in an account that he has control or direction over. The prior week, he acquired 596,700 shares at an average price per share of $1.7491 in this same account. After these purchases, the account held 8,331,234 shares.
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The following three companies have had recent insider selling activity.
Bombardier Inc. (BBD.B-T)
Last week, Sylvain Lévesque, Vice-President – Corporate Strategy, sold a total of 50,000 shares; unloading 25,000 shares at an average price per share of $3.03 on Nov. 30, and divesting 25,000 shares at an average price per share of $3.08 on Nov. 28. His remaining portfolio balance stood at 149,595 shares.
Northland Power Inc. (NPI-T)
On Nov. 27, Dino Gliosca, Vice-President – Engineering, sold 96,000 shares at an average cost per share around the $24 level. On Nov. 24, he divested 51,600 shares at an average price per share of $24.0017. After these transactions, his portfolio's position was reduced to 415,280 shares.
Savaria Corp. (SIS-T)
The share price has rallied a remarkable 65 per cent year-to-date and one insider has been a seller in the market, benefitting from the stock's price strength.
On Nov. 17, Jean-Louis Chapdelaine, who sits on the board of directors, exercised his options and over subsequent days, he sold the corresponding number of shares (25,000) at an average price per share above $17, leaving 125,000 shares in his account.
Jennifer Dowty