A Bank of Montreal or BMO location in Toronto, is seen in this file photo.Deborah Baic/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, 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 companies with buying activity.
Bank of Montreal (BMO-T)
On Sept. 6, Philip Orsino, who sits on the board of directors, took advantage of the share price weakness and purchased 17,800 shares at an average cost per share of $89.12, increasing his portfolio's position to 52,000 shares.
West Fraser Timber Co. Ltd. (WFT-T)
On Sept. 1, director Gillian Winckler acquired 1,000 shares at an average cost per share of $64.215, initiating a portfolio position.
=====
The following company has had recent insider selling activity.
K-Bro Linen Inc. (KBL-T)
On Aug. 31, Jeffrey Gannon, general manager – Calgary operations, sold 1,278 shares at an average price per share of $40.03, reducing his portfolio's holdings to 7,929 shares.
=====
The following companies have had mixed trading with both recent insider buying and selling activity.
Chorus Aviation Inc. (CHR-T)
On Sept. 1, vice-president – finance and business services Gary Osborne purchased 50,000 shares at an average cost per share of $8.25, taking his portfolio's holdings up to 100,000 shares.
On Aug. 25, vice-president – airports and systems operations control at Jazz Aviation LP Franco Giampa exercised his options and sold the corresponding number of shares (36,800) at an average price per share of $8.20. The prior day, he also exercised his options and sold the corresponding number of shares (120,100) at an average price per share of $8.20. After these transactions, he held 71,271 shares in the portfolio.
In addition, two other management executives exercised their options and sold the corresponding number of shares.
Chief financial officer Jolene Mahody sold 57,000 shares on Aug. 24 and divested 193,000 shares on Aug. 23, leaving a portfolio balance of 198,246 shares.
President and chief executive officer Joe Randell sold 29,700 shares on Aug. 24, divested 70,300 shares on Aug. 23, sold 100,000 shares on Aug. 22, trimmed 26,600 shares on Aug. 17, and disposed of 111,500 shares on Aug. 16. After these transactions, Mr. Randell held 2,574 shares in the portfolio.
Shaw Communications Inc. (SJR.B-T)
On Sept. 5, Jim Shaw, who sits on the board of directors, bought 10,000 shares for an account in which he has indirect ownership (SJ Sandstorm Corp.) at an average price per share of $27.7024, initiating a portfolio position.
However, other insiders have taken a different approach, selling shares in the market.
On Aug. 30, fellow board member Adrian Burns exercised her options and sold the corresponding number of shares (50,000) at an average price per share of $28, leaving a remaining portfolio balance of 3,400 shares.
On Aug. 29, director J.C. Sparkman exercised his options and sold the corresponding number of shares (50,000) at an average price per share of $27.601, leaving a closing balance of 24,000 shares.
On Aug. 28, director Michael O'Brien exercised his options and sold the corresponding number of shares (17,300) at an average price per share of $27.563 with 24,250 shares remaining in his portfolio.
That same day, chief technology officer Zoran Stakic exercised his options and sold the corresponding number of shares (12,500) at an average price per share of $27.60, eliminating his portfolio's position.
On Aug. 23, chief strategy and business development officer Trevor English exercised his options and sold the corresponding number of shares (80,000) at an average price per share of $27.62, eliminating his portfolio's position.
On Aug. 16, chief executive officer Bradley Shaw exercised his options and sold the corresponding number of shares (400,000) at an average price per share of $27.8517. After this transaction, the portfolio held 3,809 shares.
Follow me on Twitter at @jennifer_dowty to receive links to all my insider reports
Jennifer Dowty