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 are two stocks that have had recent insider buying activity.
ARC Resources Ltd. (ARX-T)
On May 6, Fred Dyment, who sits on the board of directors, invested nearly $80,000 in shares of the company. He purchased 10,000 shares at a price per share of $7.94, increasing this account’s holdings to 210,282 shares.
Cenovus Energy Inc. (CVE-T)
On May 3, chief financial officer Jonathan McKenzie acquired 10,000 shares at a cost per share of $12.03, raising his portfolio’s position to 76,758 shares. The cost of this investment exceeded $120,000.
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Listed below are two stocks that have had recent selling activity reported by insiders.
Endeavour Mining Corp. (EDV-T)
On May 3, president, chief executive officer and director Sébastien de Montessus sold 51,060 shares at a price per share of $20.08, leaving 411,628 shares in his portfolio. Gross proceeds from the sale exceeded $1-million.
The stock is favoured by Bay Street analysts with a unanimous buy recommendation from 12 analysts. The average 12-month target price is $29.64. Year-to-date, the share price is down over 9 per cent.
Genworth MI Canada Inc. (MIC-T)
On May 6, chief financial officer Philip Mayers, exercised his options, receiving 6,400 shares at a cost per share of $19, and sold 6,400 shares at a price per share of $41.95. His remaining account balance stood at 20,912 shares. Net proceeds not including brokerage fees totaled over $146,000.
Jennifer Dowty