Insiders at Birchcliff Energy Ltd. bought in the spring of 2014 as natural gas prices languished. For investors who bought along with the insiders, it has been a good trade with the stock hitting a multi-year peak in June. However, insider selling has now emerged. In July, insiders reported selling a net 271,400 shares in the public market while 4 insiders exercised 279,700 warrants at $8.30. Although it is encouraging that some insiders held onto their newly acquired shares, beneficial officer and director holdings remain below median compared to peers.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Infographic reflects public-market transactions of common shares or unit trusts by company officers and directors.