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 two companies that have had insider buying activity.
Brookfield Property Partners L.P. (BPY.UN-T)
In recent weeks, Brookfield Asset Management Inc. has purchased over US$89-million worth of units in the public market. Between Sept. 5 and Sept. 19, Brookfield Asset Management acquired a total of 4,473,235 units at an average price per unit of approximately US$19.93 in an account for which it has indirect ownership (BPGH Sub Inc.). After these transactions, the account held 25,749,831 units.
Brookfield Asset Management has investments in four publicly listed partnerships: Brookfield Property Partners, Brookfield Infrastructure Partners, Brookfield Renewable Partners, and Brookfield Business Partners.
Earlier this month, we reported that the chief financial officer Bryan Davis purchased 10,000 units at a price per unit of $25.79 on Sept. 7. The prior day, Mr. Davis acquired 10,000 units at a cost per unit of $25.58. After these two trades, his account held 94,637 units.
Pengrowth Energy Corp. (PGF-T)
On Sept. 20, Seymour Schulich, with an ownership position above 10 per cent, purchased 1-million shares at a cost per share of 98.79 cents for an account in which he has indirect ownership (The Schulich Foundation). In addition, on Sept. 18, he bought 1-million shares for this account. After these transactions, the account held 36-million shares.
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The following three stocks have had recent selling activity reported by insiders.
Calian Group Ltd. (CGY-T)
On Sept. 18, Ray Basler, who sits on the board of directors, exercised his options and sold the corresponding number of shares received (3,500) at a price per share of $31.16. The prior week, on Sept. 10, Mr. Basler exercised his options and sold the corresponding number of shares received (4,000) at a price per share of $31.25. After these trades, his account held 44,517 shares.
Open Text Corp. (OTEX-T)
With a total transaction value of over $1-million, between Sept. 10 and Sept. 14, John Doolittle, the company’s former chief financial officer, exercised his options and sold the corresponding total number of shares received (30,000), leaving 19,861 shares in his portfolio.
TransCanada Corp. (TRP-T)
On Sept. 17, Catharine Davis, vVice-President – Pipelines Law, exercised her options and sold the corresponding number of shares received (2,000) at a price per share of $54.60, eliminating her account’s holdings.
Jennifer Dowty