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TD Centre office towers in Toronto are pictured in this file photo.Fred Lum/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 companies with buying activity.

Calfrac Well Services Ltd. (CFW-T)

On Aug. 30, Wilks Brothers LLC, an insider with an ownership position above 10 per cent, purchased 150,300 shares at an average price per share of $3.50. The prior day, Wilks Brothers LLC bought 429,100 shares in the market at an average cost per share of $3.45.

CES Energy Solutions Corp. (CEU-T)

On Sept. 6, the president and chief executive officer Tom Simons purchased 45,000 shares at an average price per share of $5.4879, taking his portfolio's position up to 2,164,223 shares.

On Sept. 1, John Hooks, who sits on the board of directors, purchased 50,000 shares at an average cost per share of $5.3034, taking his portfolio's holdings up to 1,654,905 shares.

Exchange Income Corp. (EIF-T)

On Aug. 29, Gary Buckley, who sits on the board of directors, purchased 1,600 shares at an average price per share of $30.79. The previous week, between Aug. 21 and Aug. 25, he acquired a total of 12,500 shares. All purchases were for an account in which he has control or direction over (GeeBee Investment Ltd.). After these transactions, the portfolio held 259,175 shares.

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The following companies have had recent insider selling activity.

Arizona Mining Inc. (AZ-T)

On Aug. 31, Robert Wares, who sits on the board of directors, sold 50,000 shares at an average price per share of $3.13. His remaining portfolio balance is significant at 6,902,505 shares.

Toronto-Dominion Bank (TD-T)

On Sept. 5, Teri Currie, group head – Canadian personal banking, exercised her options and sold the corresponding number of shares (47,840) at an average price per share of $66.86, eliminating her portfolio's position.

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