Various images of shoppers at the Dollarama store on Spadina Avenue in Toronto on June 13, 2012.Deborah Baic/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.
Continental Gold Inc. (CNL-T)
On Sept. 12, lead director Dr. Kenneth Thomas purchased 28,280 shares at an average cost per share of $3.2205, more than doubling his portfolio's holdings to 50,935 shares.
Painted Pony Energy Ltd. (PONY-T)
On Sept. 14, chief financial officer Derek Aylesworth bought 83,750 shares at an average cost per share of $3.32. On Sept. 8, he purchased 18,975 shares at an average price per share of $3.04, initiating a portfolio position.
His portfolio held a total of 102,725 shares after these two transactions.
In addition, three management executives completed relatively small recent transactions.
On Sept. 15, Ted Hanbury, senior vice-president - engineering, bought 4,400 shares at an average price per share of $3.24, increasing his portfolio's holdings to 157,709 shares.
On Sept. 13, James Reimer, vice-president – geosciences and technology, purchased a total of 8,100 shares at an average cost per share of $3.20 for two accounts. He acquired 4,700 shares for his personal account, raising his portfolio's position to 98,564 shares, and he bought 3,400 shares for an account that he has control or direction over, increasing its holdings to 41,900 shares.
On Sept. 7, president and chief executive officer Patrick Ward acquired 5,000 shares at an average cost per share of $3.08. The prior day, he bought 5,000 shares at an average price per share of $3.19, adding to his large portfolio position that stood at 1,140,308 shares after these trades were completed.
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The following companies have had recent insider selling activity.
Dollarama Inc. (DOL-T)
On Sept. 12, Geoffrey Robillard, senior vice-president – import division, sold 5,000 shares at an average price per share of $133.985, trimming his sizeable position down to 675,000 shares.
Innergex Renewable Energy Inc. (INE-T)
On Sept.12, chief investment officer Jean Trudel sold 50,000 shares at an average price per share over $15, reducing his portfolio's holdings to 196,434 shares.
Kinaxis Inc. (KXS-T)
Chairman of the board of directors Douglas Colbeth completed several trades for an account in which he has control or direction over.
On Sept. 12, Mr. Colbeth sold 15,700 shares at an average price per share of $76.4876. The previous day, he sold 13,700 shares at an average price per share of $75.4453, and on Sept. 8, he divested 20,600 shares at an average price per share of $74.1064. After these three transactions, the portfolio's position was eliminated.
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Jennifer Dowty