A Royal Bank of Canada (RBC) sign is seen outside of a branch in Ottawa.Chris Wattie/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 a company with recent insider buying activity.
Colabor Group Inc. (GCL-T)
On Oct. 23, three insiders were buyers in the market.
Robert Briscoe, executive vice-chairman of the board of directors, bought 500,000 shares at an average cost per share of 75 cents, lifting his account's position to 2,046,714 shares.
Fellow board member Robert Johnston acquired 15,000 shares at an average cost per share of 72 cents, increasing his portfolio's position to 40,000 shares.
Chief financial officer Jean-François Neault purchased 10,300 shares at an average cost per share of 73 cents, taking the portfolio's holdings up to 24,857 shares.
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The following three companies have had recent insider selling activity.
Computer Modelling Group Ltd. (CMG-T)
On Oct. 27, director Patrick Jamieson sold 11,000 shares at an average price per share of $10.15, reducing his portfolio's holdings to 21,880 shares.
Royal Bank of Canada (RY-T)
On Oct. 23, President and Chief Executive Officer Dave McKay exercised his options and sold the corresponding number of shares (8,929), leaving a remaining portfolio balance of 5,873 shares. In previous months, Mr. McKay has taken the same actions, exercising his options and selling the corresponding number of shares on the same day.
On Oct. 23, Chief Administrative Officer Jennifer Tory exercised her options, receiving 512 shares and subsequently sold 344 shares at an average price per share of $101.55, leaving 11,786 shares in her portfolio.
In a previous report, we indicated that Doug McGregor, chairman and chief executive officer of RBC Capital Markets, exercised his options and sold the corresponding number of shares (10,000) at an average price per share of $93.1013 on Sept. 19, leaving a remaining portfolio balance of 75,908 shares.
Shaw Communications Inc. (SJR.B-T)
On Oct. 27, Gregg Keating, who sits on the board of directors, exercised his options and sold the corresponding number of shares (50,000) at an average price per share of $27.6966, eliminating his portfolio's position.
Jennifer Dowty