A woman leaves a Bank of Nova Scotia branch in Ottawa.Chris Wattie/Reuters
Featured below are companies that have experienced recent insider buying and selling 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.
Bonterra Energy Corp. (BNE-T)
George Fink, chief executive officer and chairman of the board of directors, continues to accumulate shares.
On June 2, he acquired 5,000 shares at an average cost of $15.974 per share. During the month of May, Mr. Fink purchased a total of 40,549 shares. After these trades, his portfolio balance stood at 3,171,199 shares.
Exchange Income Corp. (EIF-T)
Chief executive officer Michael Pyle has reportedly purchased a total of 1,843 shares for two accounts since the beginning of June at a cost of over $33 per share. Executive vice-chairman Duncan Jessiman purchased 1,625 shares at an average price of $33.49 per share on May 30, increasing his portfolio's position to 60,143 shares.
RioCan Real Estate Investment Trust (REI.UN-T)
On June 7, Stuart Baum, vice-president of human resources, bought 2,000 units, priced around $25.50 per unit, initiating a portfolio position.
Bank of Nova Scotia (BNS-T)
President and chief executive officer Brian Porter purchased 1,000 shares at an average price per share of $77.74, taking his ownership position up to 103,402 shares.
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Recent insider selling activity has occurred in the following companies.
Air Canada (AC-T)
On June 6, Arielle Meloul-Wechsler, senior vice-president of people and culture, exercised her options and that same day sold the corresponding number of shares (7,064) at an average price of $17.62 per share, eliminating her portfolio's position.
On June 5, Craig Landry, senior vice-president of revenue optimization, exercised his options, receiving 12,989 shares. That same day, he sold 5,613 shares at an average price of $17.76 per share, leaving a portfolio balance of 7,376 shares.
Last week, we reported that three executives were recent sellers.
On May 25, senior vice-president of commercial strategy Marcel Forget exercised his options and the same day sold the corresponding number of shares (43,470), reducing the balance in his portfolio to 6,190 shares.
On May 30, Jim Tabor, vice-president of system operations control, exercised his options and sold the corresponding number of shares, 5,763 shares. His remaining portfolio balance stood at 8,277 shares.
On May 24, the firm's treasurer Pierre Houle exercised his options and the same day sold the corresponding number of shares, 3,301 shares, eliminating his portfolio's position.
B2Gold Corp. (BTO-T)
On June 5, Bill Lytle, the senior vice-president of operations, exercised his options, receiving 69,802 shares. That day, he sold 22,263 shares at an average price of $3.38 per share, leaving a remaining portfolio balance of 125,938 shares.
Ballard Power Systems Inc. (BLDP-T)
On June 8, Paul Osenar, president of subsidiary Protonex Technology Corp., sold 50,000 shares at an average price per share around the $2.87 level, leaving a remaining portfolio balance of 294,702 shares.
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The following company has experienced mixed trading with a combination of insider buying and selling activities.
Waste Connections Inc. (WCN-T)
On June 7, president Steven Bouck sold 15,000 shares at an average price of $96.05 (U.S.) per share, reducing his portfolio's position to 192,531 shares. O
On June 2, Patrick Shea, senior vice-president, general counsel and secretary, sold 6,000 shares, taking his portfolio's holdings down to 21,676 shares. On June 5, director Michael Harlan sold 3,400 shares, receiving $96.487 (U.S.) per share, and leaving 27,536 shares in his portfolio.
On the other hand, on June 6, Sue Lee, who sits on the board of directors, purchased 800 shares at a cost of $130.37 (Canadian) per share, increasing her ownership position to 5,079 shares.
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Jennifer Dowty