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 three securities that have had recent buying activity reported by insiders.
Gildan Activewear Inc. (GIL-T)
On Nov. 4, director Russell Goodman invested over $87,000 in shares of the company. He bought 2,500 shares at a price per share of $34.9984 for an account in which he has indirect ownership (spouse), initiating a portfolio position.
On Oct. 18, the share price tumbled 26 per cent after management slashed its earnings guidance for the third-quarter and 2019 due to weak demand for its imprintables.
Year-to-date, the share price has declined over 13 per cent.
Gran Tierra Energy Inc. (GTE-T)
On Nov. 8, the following three insiders were buyers in the market.
The president and chief executive officer Gary Guidry purchased 60,200 shares at an average cost per share of approximately $1.40, initiating a position in this account (RRSP). The cost of this investment totaled over $84,000.
Lawrence West, vice-president – exploration, topped up his investment in Gran Tierra with the purchase of 35,000 shares at a price per share of $1.46, lifting his account balance to 292,030 shares. The cost of this investment exceeded $51,000.
Jim Evans, vice-president – corporate services, acquired 35,500 shares at an average cost per share of roughly $1.40, raising his portfolio’s holdings to 225,905 shares. The purchase price was roughly $50,000.
Year-to-date, the share price has plunged 55 per cent.
Maple Leaf Foods Inc. (MFI-T)
On Nov. 4, Jonathan McCain, who sits on the board of directors, acquired 8,000 shares at a price per share of $23.4726 for an account in which he has indirect ownership (Andover Capital Corporation), initiating a position. The cost of this purchase exceeded $187,000.
The share price has dropped 23 per cent over the past two weeks, giving up all of its year-to-date gains.
Year-to-date, the stock price is down 18 per cent.
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Listed below is a stock that has had recent selling activity in the public market reported by an insider.
Lundin Mining Corporation (LUN-T)
Between Nov. 1 and Nov. 7, Steve Gatley, vice-president – technical services, exercised his options, receiving 132,000 shares at a cost per share of $5.35, and sold 132,000 shares at an average price per share of approximately $7.21, leaving 98,000 shares in his account. Net proceeds, not including trading fees, totaled over $245,000.
Jennifer Dowty