Empire owns the Sobeys grocery-store chain.Brent Lewin/Bloomberg
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.
Empire Company Ltd. (EMP.A-T)
On Oct. 11, president and chief executive officer Michael Medline purchased 6,800 shares at an average cost per share of $21.8684 for an account in which he has indirect ownership (2436212 Ontario Limited), increasing the portfolio's position to 17,800 shares.
Earlier this month, we reported that Mr. Medline acquired 11,000 shares at an average cost per share around the $22.50 level for this account on Sept. 22, initiating a portfolio position.
Guyana Goldfields Inc. (GUY-T)
On Oct. 2, president and chief executive officer Scott Caldwell bought 15,000 shares at an average price per share of $4.10, lifting his portfolio's position to 489,357 shares.
PHX Energy Services Corp. (PHX-T)
On Oct. 4, the chairman of the board of directors John Hooks bought 79,650 shares at an average price per share of $2.30. In a previous report, we reported that Mr. Hooks purchased 650,000 shares at an average price per share of $2.25 on Sept. 20, and accumulated 60,700 shares at an average cost per share of $2 on Sept. 13. After these transactions, his account balance stood at 7,740,300 shares.
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The following two companies have had recent insider selling activity.
New Flyer Industries Inc. (NFI-T)
On Sept. 28, Paul Smith, executive vice-president – sales, marketing, and customer program management, sold 10,000 shares at an average price per share of $51.55. Two days prior, he divested 10,000 shares at an average price per share of $50.25. His remaining portfolio balance after these two trades was 115,698 shares.
Onex Corporation (ONEX-T)
On Oct. 12, the president, chief executive officer and chairman of the board Gerry Schwartz sold 2,500 shares at an average price per share of $97.9944 for an account in which he has control or direction over (The Gerald Schwartz and Heather Reisman Foundation). The previous day, he sold 107,500 shares at an average price per share of $97.9888 for this account. After these two transactions, the portfolio held 1,238,500 shares.
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Jennifer Dowty