A Transat plane is seen in this file photo.© Swoan Parker / Reuters/Reuters
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.
Extendicare (EXE-T)
On Sept. 18, president and chief executive officer Tim Lukenda bought 100,000 shares at an average price per share of $9.23, raising his portfolio's holdings to 240,000 shares.
Transat A.T. Inc. (TRZ-T)
On Sept. 20, Louis-Marie Beaulieu, who sits on the board of directors, purchased 10,000 shares at an average cost per share of $9.55, doubling his portfolio's position to a closing balance of 20,000 shares.
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The following companies have had recent insider selling activity.
Cott Corporation (BCB-T)
Gregory Monahan, who sits on Cott's board of directors and is a senior managing director at New York-based activist firm, Crescendo Partners, L.P., sold 2,500 shares on Sept. 14, divested 3,000 shares on September 13, and liquidated 3,000 shares from his portfolio on Sept. 12, leaving a remaining portfolio balance of 110,166 shares. All three transactions were completed at an average price per share above $15 (U.S.)
Last week, we reported that the company's chief accounting officer Jason Ausher sold 5,800 shares at an average price per share of $15.35 (U.S.) on Sept. 8, taking his portfolio position down to 13,357 shares.
Transcontinental Inc. (TCL.A-T)
On Sept. 12, president and chief executive officer François Olivier exercised his options, receiving 145,124 shares, all of which he sold over the next few days.
On Sept. 19, Mr. Olivier sold 112,400 shares at an average price per share around the $26.83 level. On Sept. 15, he sold 31,824 shares at an average price per share around the $26.88 level, and on Sept. 14, he divested 900 shares. These transactions slashed his portfolio's position to 21,440 shares.
ZCL Composites Inc. (ZCL-T)
From Sept. 15 through Sept. 21, director Darcy Morris sold a total of 12,200 shares at an average price per share above $13 for an account that he has control or direction over (Ewing Morris & Co. Investment Partners Ltd.), trimming the portfolio's holdings to 1,008,300 shares.
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Jennifer Dowty