A Westjet plane sits at the gate as it loads passengers at the Calgary International Airport on Sunday February 26, 2012.Chris Bolin/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 a company with buying activity.
Restaurant Brands International Inc. (QSR-T)
On Aug. 4, Ali Hedayat, who sits on the board of directors, purchased 5,000 shares at an average price per share around the $77.50 price level, increasing his portfolio's holdings to 25,000 shares.
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The following companies have had recent selling activity.
Baytex Energy Corp. (BTE-T)
On Aug. 3, John Brussa, who sits on the board of directors, sold 130,000 shares, leaving a remaining portfolio balance of 430,989 shares.
Cogeco Inc. (CGO-T)
On Aug. 2, Elizabeth Alves, vice-president of internal audit and risk management at Cogeco Inc., sold 741 shares at an average price per share just under $76, leaving a remaining portfolio balance of 5 shares.
Cogeco Communications Inc. (CCA-T)
On Aug. 2, Ms. Alves sold 996 shares at an average price of $87.05 per share, leaving a remaining portfolio balance of 203 shares.
In a previous report, we noted sales by two insiders. We reported that René Guimond, the company's senior vice-president of public affairs and communications, exercised his options and sold the corresponding number of shares (1,700) at an average price per share around the mid-$87 price level on July 20. His closing portfolio balance was 2,764 shares. Also, Christian Jolivet, the firm's chief legal officer and senior vice-president of corporate affairs and secretary, exercised his options and sold the corresponding number of shares (3,800) on July 18, reducing his portfolio's holdings to 1,935 shares.
People Corp. (PEO-X)
On Aug. 4, Scott Anderson, who sits on the board of directors, sold 1,700 shares at an average price of $6.52 per share. The prior day, he sold 5,400 shares at an average price of $6.48 per share. His remaining portfolio position remains substantial at 1,474,482 shares.
WestJet Airlines Ltd. (WJA-T)
Two insiders were recent sellers in the market.
On Aug. 4, Barbara Munroe, executive vice-president – corporate services and general counsel, divested 6,762 shares at an average price per share of $25.6878, reducing her portfolio's position to 6,757 shares.
On Aug. 3, Marshall Wilmot, senior vice-president – marketing and digital, sold 3,368 shares at an average price of $25.33 per share, reducing his portfolio's holdings to 4,609 shares.
ZCL Composites Inc. (ZCL-T)
On Aug. 9, board member Leonard Cornez exercised his options and sold the corresponding number of shares (15,000) at an average price per share of $13.0586, leaving a remaining portfolio balance of 46,853 shares.
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Jennifer Dowty