A Badger Daylighting crew drills holes in the ground for the replacement hydro poles after a storm caused damage to hydro lines in Cambridge, Ont., in 2007. Badger is one of a number of smaller companies now offering dividends to investors.Peter Lee/The Canadian Press
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 recent insider buying activity.
Badger Daylighting Ltd. (BAD-T)
On Sept. 21, Glen Roane, who sits on the board of directors, purchased 10,000 shares at an average cost per share of $25.75, increasing his portfolio's holdings to 60,700 shares.
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The following companies have had recent insider selling activity.
Chorus Aviation Inc. (CHR-T)
On Sept. 20, director Joe Randell exercised his options and sold the corresponding number of shares (58,400) at an average price per share of $8.50, leaving 2,574 shares in his portfolio.
On Sept. 20, Gary Osborne, vice-president of finance and business services, exercised his options and sold the corresponding number of shares (50,000) at an average price per share of $8.50, leaving a remaining balance of 100,000 shares in his portfolio.
Descartes Systems Group Inc. (DSG-T)
On Sept. 14, the company's general counsel Michael Verhoeve exercised his options, receiving 10,000 shares. That day, he sold 7,500 shares at an average price per share of $34.33. The following day, he sold 2,500 shares at an average price per share of $34.01, eliminating his portfolio's position.
Enerplus Corp. (ERF-T)
On Sept. 21, Glen Roane sold 20,000 shares at an average price per share of $12.191. The previous day, he sold 20,000 shares at an average price per share of $11.919. After these two sales, he held 50,000 shares in the portfolio.
New Gold Inc. (NGD-T)
On Sept. 15, director James Estey sold a total of 152,000 shares across four accounts at an average price per share of $4.7708. He sold 68,000 shares in his personal account, reducing his portfolio's position to 247,300 shares, and he sold 28,000 shares in each of the three other accounts in which he has indirect ownership, leaving a remaining balance of 50,000 shares in each of these three portfolios.
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Jennifer Dowty