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 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.
Let's begin the report featuring a stock that has had insider buying activity.
Artis Real Estate Investment Trust (AX.UN-T)
On Jan. 9 and Jan. 10, Ron Joyce, with an ownership position exceeding 10 per cent, purchased a total of 200,000 units at an average cost per unit above $14 for an account in which he has indirect ownership (Jetport Inc.), lifting the portfolio's position to 15,491,900 units.
In a previous issue, we reported that Mr. Joyce bought 75,000 units at an average cost per unit of $14.199 for this account on Dec. 15 and acquired 125,000 units at an average price per unit of $14.1457 for this account on Dec. 14.
The following two stocks have had recent insider selling activity.
Alamos Gold Inc. (AGI-T)
On Jan. 3, Colin Webster, Vice-President – Sustainability and External Affairs, exercised his options and sold the corresponding number of shares (15,000) at an average price per share of $8.32, eliminating his portfolio's holdings.
Bank of Montreal (BMO-T)
On Jan. 9, Gilles Ouellette, Chairman of BMO Nesbitt Burns Inc. and Group Head of BMO Asset Management exercised his options and sold the corresponding number of shares (6,949) at an average price per share around the $102 level. On Jan. 8, he exercised his options and sold the corresponding number of shares (6,000) at an average price per share of $101.99.
On Jan. 4, Mr Ouellette exercised his options and sold the corresponding number of shares (20,000). After these transactions, his portfolio's position was eliminated.
The following security has had mixed trading with both insider buying and selling activity recently reported.
Calfrac Well Services Ltd. (CFW-T)
On Jan. 8, Ronald Mathison, who sits on the board of directors, purchased 473,300 shares at an average price per share of $6.30, increasing his portfolio's holdings to 3,773,300 shares.
That same day, in a relatively small transaction, the company's Corporate Controller Matt Mignault exercised his options and sold the corresponding number of shares (1,500), leaving 20,000 shares in his account.