Insiders are taking profits off the table.
Several of the stocks listed below are trading near multi-year highs or record levels. Insiders are trimming positions and locking in attractive profits.
Listed below are seven 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.
Advantage Oil & Gas Ltd. (AAV-T)
President and chief executive officer Andy Mah, who is also a board member, sold 20,000 shares at a price of $8.15 per share on March 8.
Equitable Group Inc. (EQB-T)
Insider Tamara Malozewski sold 1,800 shares at a price of $71.50 per share on March 3 and sold 1,200 shares the prior day at a price of $71.65.
Kinaxis Inc. (KXS-T)
Douglas Olbeth, chairman of the board, has been reducing his holdings, selling 21,200 shares on March 10 at a price of $73.0477 per share. The prior day, he sold 28,800 shares. On March 8, he sold 46,400 shares, and on March 7, he pruned the portfolio by 3,600 shares at $71.7806 per share.
Maple Leaf Foods Inc. (MFI-T)
Several management executives have recently exercised options and sold shares. Richard Young, the senior vice-president of the supply chain and purchasing, exercised options and has been trimming his portfolio, selling 1,000 shares at a price of $31.60 per share on March 6, eliminating 16,400 shares on March 3, selling 7,000 shares on March 2 and sold another 7,000 shares on March 1. In addition, Randall Huffman, senior vice-president of operations, exercised options and sold 19,300 shares on March 2 at a price of $31.3245 per share. On March 1, management executive Ian Henry pared down his portfolio by 4,500 shares at a price of $31 per share.
Redknee Solutions Inc. (RKN-T)
Chief operating officer Vishal Kothari sold half a million shares on March 6, eliminated 504,500 shares on March 3, pared down holdings by 228,700 shares on March 2 and sold 173,000 shares on March 1.
Rogers Communications Inc. (RCI.B-T)
On March 8, chief human resources officer Jim Reid sold 3,550 shares at a price of $56.65 per share.
West Fraser Timber Co. Ltd. (WFT-T)
Last week, board member Gerald Miller sold 5,000 shares on March 8.