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

A pilot taxis a Westjet Boeing 737-700 plane to a gate after arriving at Vancouver International Airport on Feb. 3, 2014.

Darryl Dyck/The Canadian Press

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 companies with buying activity.

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Gear Energy Ltd. (GXE-T)

On Sept. 8, chairman of the board of directors Don Gray bought 87,000 shares at an average cost per share of 71 cents. The previous day, he acquired 113,000 shares at an average price per share of 71 cents, and on Sept. 6, he accumulated 200,000 shares at an average price per share of 74 cents. After these transactions, his portfolio held 3,180,676 shares.

Industrial Alliance Insurance and Financial Services Inc. (IAG-T)

On Sept. 5, president and chief executive officer Yvon Charest purchased 2,000 shares at an average cost per share of $52.90, increasing his portfolio's holdings to 124,827 shares.

Westshore Terminals Investment Corp. (WTE-T)

On August 30, Jim Pattison, with an ownership position of over 10 per cent, purchased 43,500 shares at an average cost per share of $24.80. The prior day, he bought 50,000 shares at an average price per share of $24.75. Both transactions were completed for an account in which he has indirect ownership (Great Pacific Capital Corp).

After these trades, the portfolio held 9,329,200 shares.

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The following companies have had recent insider selling activity.

National Bank of Canada (NA-T)

On Sept. 1, management executive Elaine Marchand sold 3,000 shares at an average price per share around the $57.71 level, reducing her portfolio's holdings to 1,066 shares.

WestJet Airlines Ltd. (WJA-T)

On Sept. 5, president and chief executive officer Gregg Saretsky exercised his options and sold the corresponding number of shares (14,687) at an average price per share of $25.9912, leaving 167,163 shares in the portfolio.

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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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