Quebecor’s headquarters in Montreal.Robert J. Galbraith/The Globe and Mail
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 three companies with recent insider buying activity.
Bear Creek Mining Corp. (BCM-X)
In a relatively small transaction, on Oct. 4, Frank Tweddle, who sits on the board of directors, purchased 5,000 shares at an average price per share of $2.07, increasing his portfolio's position to 137,000 shares.
On Sept. 27, the newly appointed president and chief executive officer Anthony Hawkshaw (effective Oct. 1) bought 82,000 shares, initiating a portfolio positon. The following day, he acquired 18,000 shares lifting his portfolio's holdings to 100,000 shares.
Intertape Polymer Group Inc. (ITP-T)
On Sept. 29, chief financial officer Jeffrey Crystal bought 1,800 shares at an average cost per share of $18.017.
Last week, we reported that Mr. Crystal purchased 3,200 shares at an average price per share of $18.4983 on Sept. 22, and the previous day, he acquired 9,500 shares at an average price per share of $18.5395. After these transactions, he held 19,592 shares in his portfolio.
Superior Plus Corp. (SPB-T)
On Sept. 29, three insiders stepped into the market and accumulated stock.
Pat Gottschalk, who sits on the board of directors, bought 30,000 shares at an average cost per share of $10.19 (U.S.), initiating a portfolio position.
Beth Summers, the chief financial officer, acquired 1,600 shares at an average price per share of $12.67, boosting her portfolio position to 6,000 shares.
Darren Hribar, the chief legal officer, purchased a total of 2,700 shares - 1,200 shares for one account and 1,500 shares for a different account.
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The following companies have had recent insider selling activity.
Cargojet Inc. (CJT-T)
On Sept. 26, president and chief executive officer Ajay Virmani exercised his options, accumulating 52,152 shares. By the end of the month, he sold all 52,152 shares at an average price per share around the $50 level, leaving 73,753 shares in his account.
On September 20, George Sugar, senior vice-president of flight operations, exercised his rights, receiving 6,296 shares. Two days later, he sold the corresponding number of shares at an average price per share of $50.9992, eliminating his portfolio's position.
Quebecor Inc. (QBR.B-T)
On Sept. 26, chief financial officer Jean-François Pruneau exercised his options, receiving 50,000 shares. Over the remaining trading days in September, Mr. Pruneau sold all 50,000 shares at an average price per share above the $46 level, leaving just 300 shares in the portfolio.
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Jennifer Dowty