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

A Canadian Natural Resources pump jack pumps oil out of the ground near Dorothy, Alberta in this file photo.

Todd Korol/Reuters

Featured below are companies that have experienced recent insider trading 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 several securities with insider buying activity.

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Brookfield Business Partners L.P. (BBU.un-T)

On August 9, Trish Zuccotti, who sits on the board of directors, purchased 1,667 units at an average price of $29.971 (U.S.) per unit, increasing her portfolio's holdings to 3,615 units.

CI Financial Corp. (CIX-T)

On August 15, Roy Ratnavel, executive vice-president and national sales manager, bought 15,000 shares at an average price per share of $26.86. The prior day, he purchased 10,000 shares at an average price per share of $26.76. Post these two trades, his portfolio held 125,000 shares.

Cominar Real Estate Investment Trust (CUF.un-T)

On August 9, chief financial officer Gilles Hamel purchased 8,000 units at an average cost per unit of $12.06, increasing his portfolio's holdings to 45,113 units.

DIRTT Environmental Solutions Ltd. (DRT-T)

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On August 14, president and director Scott Jenkins acquired 4,000 shares at an average price per share of $5.28. The prior trading day, on August 11, he bought 4,500 shares at an average cost per share of $5.6033. These two purchases increased his portfolio's position to 271,089 shares.

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The following companies have had recent insider selling activity.

Bonavista Energy Corp. (BNP-T)

On August 15, Wayne Merkel, the company's vice-president of exploration, sold 20,000 shares at an average price per share of $2.78, reducing his portfolio's holdings to 119,703 shares.

Canadian Natural Resources Ltd. (CNQ-T)

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For four consecutive trading days, between August 8 and August 11, president Steve Laut sold 5,000 shares each day, divesting a total of 20,000 shares. His remaining position is large with over 2.38-million shares in the portfolio.

On August 8, Darren Fichter, executive vice-president of Canadian conventional, exercised his options and sold the corresponding number of shares (3,000) at an average price per share of $40.92, leaving a remaining portfolio balance of 47,998 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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