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Developers at work on the fourth floor of Stingray Digital Group in Montreal, March 19, 2013.Christinne Muschi/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.

ThIs list features insider transaction activity; it does not convey 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.

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.

Discussed below are four stocks that have had recent insider buying activity.

Lithium Americas Corp. (LAC-T)

The large move higher in the share price has not dissuaded this insider from accumulating shares in the market.

On Nov. 20, president of South American operations Gabriel Rubacha bought 15,000 shares at an average price per share of $9.6131 (U.S.). The prior trading day, he accumulated 15,000 shares at an average cost per share of $9.228 (U.S.). These two purchases lifted his account's position to 767,000 shares.

ShawCor Ltd. (SCL-T)

Recently, two senior management executives were buyers in the market.

On Nov. 20, president and CEO Steve Orr acquired 3,725 shares at an average price per share of $26.417, lifting his portfolio's position to 17,565 shares.

That same day, chief financial officer Gaston Tano purchased 4,000 shares at an average price per share of $26.517, initiating a portfolio position.

Stingray Digital Group Inc. (RAY.A-T)

On Nov. 22, David Purdy, who sits on the board of directors, purchased 10,600 shares. The previous day, he acquired 33,300 shares and on Nov. 20, he accumulated 46,900 shares. The prior week, on Nov. 17, he initiated a portfolio position, acquiring 14,200 shares. After these transactions, his portfolio held 105,000 shares.

On Nov. 16, chairman Mark Pathy purchased 104,000 shares at an average cost per share of $9.1453 for an account in which he has indirect ownership (Mavrik Corp.), increasing the portfolio's position to 664,200 shares.

Tourmaline Oil Corp. (TOU-T)

Between Nov. 14 and Nov. 24, chairman, president, and CEO Michael Rose accumulated a total of 12,000 shares, lifting his sizeable portfolio position to 10,238,326 shares.

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