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 or perhaps shares may be sold to address tax implications when options and rights are exercised.
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. In addition, I tend to put greater weight on insider transaction activity when I see multiple insiders trading a company’s shares or units.
Furthermore, it can be of value to note if an insider’s share or unit balance (investment in the company) is trending higher or lower.
Listed below are two securities that have had recent buying activity reported by insiders.
Chemtrade Logistics Income Fund (CHE-UN-T)
Between Aug. 16 and Aug. 19, president and chief executive officer Mark Davis acquired a total of 20,300 units for two accounts (15,300 units in his personal trading account and 5,000 units for an account in which he has control or direction over) at an average cost per unit of approximately $9.89. The cost of these investments totalled over $200,000.
The Fund pays its unitholders a monthly distribution of 10 cents per unit or $1.20 per unit yearly, equating to a current annualized yield of approximately 11.8 per cent.
Methanex Corp. (MX-T)
On Aug. 12, Mark Allard, vice-president of corporate development, invested $87,000 in shares of the company. He bought 2,000 shares at a price per share of $43.65, lifting his account’s holdings to 9,081 shares.
Previously, we reported that on Aug. 6, president and chief executive officer John Floren invested $880,000 in shares of the company. He purchased 20,000 shares at a cost per share of $44, increasing his account’s holdings to 79,733 shares.
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Listed below are two stocks that have had recent selling activity reported by insiders.
Loblaw Cos. Ltd. (L-T)
On Aug. 19, president Sarah Davis exercised her options, receiving 19,940 shares at a cost per share of $34.12, and sold 19,940 shares at a price per share of $72.50, leaving 1,477 shares in her portfolio. Net proceeds from the sale, not including commission charges, totalled over $765,000.
Metro Inc. (MRU-T)
On Aug. 20, Simon Rivet, vice-president – general counsel and corporate secretary, exercised his options, receiving 2,500 shares at a cost per share of $22.0966, and sold 2,500 shares at a price per share of $54.75 with a remaining account balance of 22,580 shares. Net proceeds, not including brokerage fees, totalled over $81,000.
On Aug. 16, Carmine Fortino, executive vice-president and Ontario division head, exercised his options, receiving 22,500 shares at a cost per share of $24.6866, and sold 22,500 shares at a price per share of $54.2225 with 20,000 shares remaining in his account. Net proceeds, excluding commission charges, exceeded $664,000.
Jennifer Dowty