On Monday, I reported 22 securities with recent insider buying activity. Today, we shift the focus to companies that insiders are selling.
Several of the stocks listed below are trading near multi-year highs or record levels. Coincidentally, insiders are trimming positions and locking in attractive profits.
Listed below are 16 companies that have experienced recent insider selling activities in the public market through their direct and indirect ownership positions.
Keep in mind, when looking at transaction activities by insiders, selling activity may or may not be related to a stock's valuation; perhaps an insider needs to raise money for personal reasons. Furthermore, 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 selling a company's shares.
Advantage Oil & Gas Ltd. (AAV-T)
Chief financial officer Craig Blackwood sold 10,000 shares at a price of $8.20 per share on March 24. That same day, Andy Mah, president and chief executive officer, sold 18,400 shares, and the prior day Mr. Mah sold 6,600 shares.
Ballard Power Systems Inc. (BLDP-T)
Insider Paul Osenar sold 25,000 shares on March 20 in addition to his sale of 25,000 shares on March 14.
Boardwalk Real Estate Investment Trust (BEI.UN-T)
On March 23, Ian Dingle, vice-president of purchasing and contracts, sold 300 units at a price of $47.35 per unit. The previous day, Lisa Russell, senior vice-president of corporate development, sold 1,500 units at a price of $47.15 per unit.
Last week, we reported that the president, Roberto Geremia, sold 13,000 units at a price of $46.37 per unit on March 16.
Canadian National Railway Corp. (CNR-T)
On March 21, chief marketing officer Jean-Jacques Ruest eliminated 15,417 shares from his holdings at a price of $95.935 per share.
Last week, we reported that four insiders have been trimming their positions. Sean Finn, chief legal officer, sold 2,100 shares at a price of $96.707 per share on March 17, in addition to his sales of 1,000 shares on March 13 and 11,000 shares on February 28. Mike Cory, chief operating officer, reduced his portfolio's position by 2,100 shares on March 15. That same day, board member Edith Holiday sold 6,441 shares. Finally, Janet Drysdale, vice-president of corporate development, sold 2,400 shares on March 13.
Cargojet Inc. (CJT-T)
The president and chief executive officer, Ajay Virmani, has reported three redemptions over several trading sessions. He sold 7,800 shares on March 24, 5,000 shares on March 23 at a price of $46.015 per share, and 20,000 shares on March 22 at a price of $46 per share.
Enghouse Systems Ltd. (ENGH-T)
On March 20, Sunil Diaz, general manager at Enghouse Networks Limited, sold 10,000 shares on March 20 at a price of $63.32 per share.
Chairman and chief executive officer Steve Sadler continued to trim his portfolio position. On March 24, he sold 1,300 shares at a price of $64.25 per share. He sold 15,000 shares at a price of $63.25 per share on March 22, and sold 19,100 shares at a price of $63.23 on March 20.
Last week, we reported aaMr. Sadlee trimmed his portfolio with the share price strength. On March 17, he sold 26,500 shares at a price of $62.38 per share. He sold 3,500 shares on March 16, and sold 21,100 shares on March 15.
Gildan Activewear Inc. (GIL-T)
Board member Gonzalo Valdes-Fauli sold 3,000 shares on March 20. That same day, Chuck Ward, senior vice-president of yarn spinning, sold 2,600 shares.
Great Canadian Gaming Corp. (GC-T)
David Fretz, president of Great American Gaming Corporation and vice-president of American operations, reduced his holdings by 20,000 shares on March 22. Meanwhile, Bruce Barbour, executive director of racing operations at Flamboro Downs Holdings Limited, exercised his options and sold 5,834 shares on March 21.
Great-West Lifeco Inc. (GWO-T)
Insider Helen Kasdorf sold 1,355 shares at a price of $37 per share on March 23.
Guyana Goldfields Inc. (GUY-T)
Board member Jean-Pierre Chauvin, exercised his options and reduced his holdings by 62,385 shares at a price of $6.95 per share on March 20. Fellow board member David Beatty also exercised his options and sold 12,000 shares on March 17 and sold 16,666 shares on March 8.
Kinaxis Inc. (KXS-T)
Chief financial officer Richard Monkman sold 10,000 shares in two trades - 4,200 shares on March 21 at a price of $74.3029 per share and 5,800 shares on March 16 at a price of $73.9634 per share .
Last week, we reported that John Sicard, president and chief executive officer, sold 20,000 shares at a price of $74 per share on March 9. In addition, chairman of the board Doug Colbeth has been actively reducing his holdings, selling 21,200 shares on March 10, 28,800 shares on March 9, 46,400 shares on March 8 and 3,600 shares on March 7.
Osisko Gold Royalties Ltd. (OR-T)
Board member André Gaumond, who recently retired from his position as the company's senior vice-president of northern development, sold 20,000 shares on March 22, as well as 30,000 shares the prior day.
Pan American Silver Corp. (PAAS-T)
Matthew Andrews, vice-president of environment and sustainability, sold 3,400 shares at a price of $23.70 per share on March 24, as well as 26,000 shares at a price of $24.62 per share on March 22.
Royal Bank of Canada (RY-T)
On March 21, president and chief executive officer Dave McKay exercised his options and sold 3,578 shares at a price of $96.8205 per share.
Sienna Senior Living Inc. (SIA-T)
Board member Paula Jourdain Coleman sold 40,000 shares over the course of three trading sessions from March 20 through to March 22.
Last week, we reported that she has sold 30,790 shares between March 15 and March 17.
Thomson Reuters Corp. (TRI-T)
As the share price approaches its record closing high, several insiders are trimming their holdings.
Linda Walker, chief accounting officer and controller, sold 3,232 shares at a price of $43.60 (U.S.) per share on March 23. Peter Warwick, chief people officer, sold 16,514 shares at a price of $43.3355 (U.S.) per share the previous day. In addition, David Craig, president of the financial and risk division, sold 20,269 shares on March 21, and chief information officerRichard King sold 2,764 shares the prior day.