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The Globe and Mail

Monday’s Insider Report: Companies insiders are buying and selling

The cannabis industry faces a raft of stiff regulatory and financial hurdles even where it’s operating legally.

Dave Chan/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, including accounts they have control or direction over.

The list features insider transaction activity. It does not include total ownership information as an insider may hold numerous accounts.

Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security.

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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 featuring a company that has had recent insider buying activity.

Pembina Pipeline Corp. (PPL-T)

A couple of directors have stepped into the market and acquired shares recently.

On Dec. 12, Maureen Howe purchased 8,945 shares at an average price per share just above the $45 level, lifting her account's holdings to 10,400 shares.

On Dec. 6, Henry Sykes bought 1,000 shares at an average price per share of $44.79, increasing his portfolio's positon to 8.716 shares.


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The following three stocks have had recent insider selling activity.

Aphria Inc. (APH-T)

Founders pared shares from their portfolios as the stock price headed to a record high.

On Dec. 8, co-founder Cole Cacciavillani sold 500,000 shares at an average price per share of $13.2745, trimming his sizeable portfolio's position to 5,266,667 shares.

The previous day, co-chair and co-founder John Cervini sold 400,000 shares at an average price per share of $13.0693 for an account in which he has indirect ownership (Fulfill Holdings Inc.), reducing the account's holdings to 8,900,001 shares.

Methanex Corp. (MX-T)

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On Dec. 13, President and Chief Executive Officer John Floren sold 20,000 shares at an average price per share of $72.851, leaving 55,147 shares in his portfolio.

At the beginning of the month, we reported that insider David Valembois exercised his options and sold the corresponding number of shares (1,600) at an average price per share of $52.95 (U.S.) on Nov. 24, leaving 5,162 shares in the portfolio.

On Nov. 21, Senior Vice-President – Corporate Development Mike Herz divested 6,000 shares at an average price per share of $65.50, reducing his portfolio's position to 31,917 shares.

Russel Metals Inc. (RUS-T)

This month, two management executives have been sellers in the market.

On Dec. 11, Chief Executive Officer Brian Hedges, who will be retiring in May 2018, sold 5,200 shares at an average price per share of $29.45. The prior week, on Dec. 6, he sold 2,000 shares. These two transactions reduced his portfolio's position to 116,404 shares.

On Dec. 5, Chief Financial Officer Marion Britton exercised her options and received 25,000 shares. Between Dec. 1 and Dec. 11, she has sold a total of 31,300 shares, leaving a portfolio balance of 87,826 shares.

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