A man walks into Manulife Insurance headquarters in Toronto on Wednesday, Sept. 27, 2017.Christopher Katsarov/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, including accounts they have control or direction over.
The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.
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 featuring three companies that have had recent insider buying activity.
Big Rock Brewery Inc. (BR-T)
Between Dec. 11 and Dec. 13, Robert Peters, who sits on the board of directors, acquired a total of 20,000 shares at an average cost per share of approximately $6.68 for an account in which he has indirect ownership (Black Diamond Ventures Ltd.), increasing the account's position to 250,000 shares.
ECN Capital Corp. (ECN-T)
On Dec. 14, four management executives were buyers in the public market, accumulating shares at an average price per share of $3.9295.
Chief Executive Officer Steven Hudson purchased 381,728 shares, lifting his portfolio's position to 10,578,286 shares.
President Jim Nikopoulos also acquired 381,728 shares, increasing his account's holdings 2,074,640 shares.
Chief Financial Officer Grier Colter accumulated 190,864 shares taking his ownership position in this account up to 475,064 shares.
Loreto Grimaldi, Senior Vice-President – General Counsel and Secretary, bought 127,243 shares, raising his portfolio's holdings to 455,699 shares.
Manulife Financial Corp. (MFC-T)
On Dec. 15, President and Chief Executive Officer Roy Gori purchased 60,694 shares at an average price per share of $26.70, initiating a portfolio position.
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The following company has had selling activity reported by insiders.
Enbridge Inc. (ENB-T)
On Dec. 18, President and Chief Executive Officer Al Monaco exercised his options, receiving 90,000 shares. That day, he sold 51,937 shares at an average price per share above $50, leaving 482,726 shares in his portfolio.
Between Dec. 15 and Dec. 18, Chief Development Officer Vern Yu exercised his options and sold the corresponding number of shares (46,800) with 30,972 shares remaining in his account.
In addition, Cynthia Hansen, Executive Vice-President – Utilities and Power Operations, also exercised her options and sold the corresponding number of shares (56,000) between Dec. 15 and Dec. 18, leaving 50,074 shares in her portfolio.
Between Dec. 15 and Dec. 19, Colin Gruending, Vice-President – Corporate Development and Investment Review, exercised his options and sold the corresponding number of shares (18,000), leaving 11,840 shares in his account.
Jennifer Dowty