A pilot taxis a Westjet Boeing 737-700 plane to a gate after arriving at Vancouver International Airport on Feb. 3, 2014.Darryl Dyck/The Canadian Press
Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships.
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 detailing four companies that have had recent insider buying activity.
Atlantic Gold Corp. (AGB-X)
The share price is up approximately 80 per cent year-to-date. Despite the strong move higher, director Ryan Beedie continues to accumulate shares in the market. He bought 50,000 shares at an average cost per share of $1.4387 on Nov. 2. The previous day, he purchased 54,600 shares at an average price per share of $1.4413. After these trades, the portfolio held 47,209,744 shares.
Cenovus Energy Inc. (CVE-T)
On Nov. 6, five board members purchased shares in the public market.
Claude Mongeau bought 35,900 shares at an average price per share of $13.90, increasing his portfolio's position to 121,300 shares.
Richard Marcogliese purchased a total of 26,200 shares at an average cost per share just under $11 (U.S.) for an account in which he has indirect ownership (Marcogliese Family Revocable Trust 1998), lifting the account's holdings to 50,000 shares.
Patrick Daniel acquired 35,000 shares at an average price per share of $13.969, taking his portfolio's ownership up to 74,348 shares.
Charles Rampacek initiated a portfolio position with the purchase of 10,000 shares at an average price per share of $11.11 (U.S.).
Lastly, Susan Dabarno, a member of the board of directors since April of this year, acquired a total of 15,000 shares for two accounts. She purchased 8,500 shares in a Life Income Fund (LIF), taking this account's holdings up to 23,425 shares. In her Locked-In Retirement Account (LIRA), she purchased 6,500 shares, boosting the account's holdings to 6,699 shares.
Orezone Gold Corp. (ORE-X)
Between Nov. 2 and Nov. 7, President and Chief Executive Officer Patrick Downey accumulated a total of 170,500 shares at an average price per share around the 64 cent level, lifting his share balance to 1,345,700 shares.
WestJet Airlines Ltd. (WJA-T)
Two board members accumulated shares, taking advantage of the recent price weakness.
On Nov. 2, Jacques Ménard bought 5,000 shares at an average price per share of $25.5056 for an account in which he has indirect ownership (Mervans Inc.), increasing the portfolio's holdings to 25,000 shares.
That same day, Karen Sheriff purchased 4,000 shares at an average price per share of $25.55, lifting her account's position to 9,000 shares.
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Jennifer Dowty