The logo of Scotiabank is seen at a branch in Toronto November 9, 2007.© Mark Blinch / Reuters/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 companies with buying activity.
Granite Real Estate Investment Trust (GRT.UN-T)
From Sept. 6 through Sept. 12, board member Samir Manji, purchased a total of 12,692 units at an average price per unit around the $50 level for an account in which he has indirect ownership, increasing the portfolio's holding to 924,642 units. Mr. Samir was the founder of Amica Mature Lifestyles Inc., which was sold to Ontario Teachers' Pension Plan.
On September 6, board member Al Mawani purchased 3,000 units at an average cost per unit of $50.25, increasing his portfolio's position to 8,000 units.
Pretium Resources Inc. (PVG-T)
On Sept. 7, executive chairman Robert Quartermain bought 25,000 shares at an average price per share around the $10.52 level, taking his sizable portfolio position up to 2,240,653 shares.
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The following companies have had recent insider selling activity.
Bank of Nova Scotia (BNS-T)
On Sept. 12, Deborah Alexander, executive vice-president and general counsel, sold 7,114 shares at an average price per share of $76.7598, reducing her portfolio's position to 8,157 shares.
Keyera Corp. (KEY-T)
On Sept. 8, Graham Balzun, vice-president – corporate responsibility, sold 2,100 shares at an average price per share of $35.59, trimming his portfolio's holdings to 35,802 shares .
New Flyer Industries Inc. (NFI-T)
Two management executives have been recent sellers in the market.
During the period between Sept. 8 and Sept. 12, Wayne Joseph, president – transit bus business, exercised his options and sold the corresponding number of shares, a total of 25,000 shares, at an average price per share around the $51 level, leaving a remaining portfolio balance of 41,725 shares.
On Sept. 8, Paul Smith, executive vice-president – sales, marketing and customer program management, divested 4,700 shares at an average price per share of $50.7917. The prior day, he sold 20,300 shares at an average price per share of $51.1107. After these transactions, his portfolio held 135,698 shares.
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Jennifer Dowty