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.
Listed below is a stock that has had recent buying activity reported by multiple insiders.
Encana Corp. (ECA-T)
Year-to-date, the share price of this large-cap dividend stock has declined 31 per cent.
On Nov. 1, several insiders were buyers in the market.
Thomas Ricks acquired 62,500 shares at a price per share of US$3.9599, lifting his account balance to 258,657 shares. The cost of this purchase exceeded US$247,000. Mr. Ricks joined the company’s board of directors earlier this year.
Chief executive officer Doug Suttles invested US$49,000 in shares of the company. He purchased 12,500 shares at a cost per share of US$3.92, increasing his portfolio’s position to 241,677 shares.
Director Howard Mayson bought 10,000 shares at an average price per share of approximately US$3.96, raising his account’s holdings to 60,488 shares. The cost of this investment exceeded US$39,000.
Director Suzanne Nimocks acquired 6,000 shares at a price per share of US$3.93, taking her account balance up to 41,684 shares.
Listed below are three stocks that have had recent selling activity in the public market reported by insiders.
Air Canada (AC-T)
On Oct. 31, chief financial officer Mike Rousseau exercised his options, receiving a total of 90,302 shares at a cost per share of $5.39, and sold 90,302 shares at an average price per share of approximately $46.73, leaving 85,000 shares in his account. Net proceeds, not including commission charges, exceeded $3.7-million.
Great Bear Resources Ltd. (GBR-X)
Year-to-date, the share price has more than tripled in value.
Between Oct. 25 and Oct. 30, Doug Ramshaw, who sits on the board of directors, exercised his options, receiving 20,000 shares at a cost per share of 23 cents, and sold 20,000 shares at an average price per share of roughly $6.95 with 237,241 shares remaining in his account. Net proceeds, excluding trading fees, exceeded $134,000.
Vecima Networks Inc. (VCM-T)
Between Oct. 29 and Oct. 31, Hugh Wood, the company’s former (retired) chief operating officer with an ownership position exceeding 10 per cent, sold a total of 400,000 shares at a price per share of $9.40 for an account in which he has indirect ownership (101054948 Saskatchewan Ltd.), reducing this account’s holdings to 1,589,600 shares. Proceeds from the sales, not including trading fees, totaled over $3.7-million.