Passengers disembark an Air Canada Jazz flight after flying on a Canadair Regional Jet in Prince George in 2008. John Lehmann/Globe and MailJOHN LEHMANN/The Globe and Mail
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 that 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 a trust with insider buying activity.
Pure Industrial Real Estate Trust (AAR.un-T)
On August 3, chief financial officer Teresa Neto purchased 5,000 units at an average cost of $6.40 per unit, increasing her portfolio's holdings to 11,037 units.
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The following companies have had recent insider selling activity.
CGI Group Inc. (GIB.A-T)
On August 9, Lorne Gorber, the executive vice-president of global communications and investor relations, exercised his options and sold the corresponding number of shares (2,500) at an average price per share around the $63.60 level, eliminating his portfolio's position.
Chorus Aviation Inc. (CHR-T)
On August 15, Colin Copp, the president of Jazz Aviation LP, exercised his options and sold the corresponding number of shares (102,400) at an average price of $8 per share. The previous day, he exercised his options and sold the corresponding number of shares (97,600) at an average price of $8.0053 per share. After these transactions, his portfolio held 26,533 shares.
Genworth MI Canada Inc. (MIC-T)
On August 14, chairman Brian Hurley sold 15,100 shares at an average price per share of $35.98, leaving a remaining portfolio balance of 66,294 shares.
On August 9, Winsor Macdonell, senior vice-president, general counsel and secretary, exercised his options and sold the corresponding number of shares (8,100) at an average price per share of $38, leaving a remaining portfolio balance of 14,040 shares.
Mitel Networks Corp. (MNW-T)
On August 14, president and chief executive officer Richard McBee exercised his options and sold the corresponding number of shares (130,000) at an average price of $8.21 (U.S.) per share. The prior week, on August 7, Mr. McBee exercised his options and sold the corresponding number of shares (also 130,000) at an average price of $8.64 (U.S.) per share. After these transactions, his portfolio held 267,647 shares.
On August 14, chairman Dr. Terence Matthews sold 200,000 shares at an average price per share of $10.4263 for an account in which he has indirect ownership (Wesley Clover International Corporation), and in the days prior, on August 9, he sold 450,000 shares at an average price of $10.5689 per share for this account. After these trades, the account maintained a sizable position with 4,766,690 shares.
On August 7, Jon Brinton, the president of Mitel's Cloud Division, exercised his options, receiving 20,000 shares, and sold 15,811 shares at an average price of $8.555 (U.S.), leaving a remaining portfolio balance of 29,702 shares.
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Jennifer Dowty