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 two securities that have had insider buying activity.
Alimentation Couche-Tard Inc. (ATD/B-T)
On Feb. 22, Eric Boyko, who sits on the board of directors, purchased 2,000 shares at an average price per share of approximately $62.69 for an account in which he has indirect ownership (Boyko Investments Corp.), increasing the account's holdings to 4,400 shares.
Enbridge Income Fund Holdings (ENF-T)
On Feb. 21, Director Richard Bird purchased a total of 235,700 shares at an average price per share of $27.9862, which were bought for several accounts.
On Feb. 20 fellow board member Laura Cillis acquired 1,800 shares at an average cost per share of $27.297.
The following stock has had recent insider selling activity.
Fortis Inc. (FTS-T)
On Feb. 26, Gary Smith, Executive Vice-President of Eastern Canadian and Caribbean Operations, exercised his options, receiving 11,656 shares, and sold 10,072 shares at an average price per share of $42.097, leaving 16,046 shares in his account.
The following stock has had mixed trading with both recent selling and buying activity reported by insiders.
Restaurant Brands International Inc. (QSR-T)
Between Feb. 21 and Feb. 26, Heitor Goncalves, Chief People and Information Officer, exercised his options, receiving a total of 471,495 shares, and sold 213,249 shares at an average price per share above the U.S.$59 level. After these transactions, his portfolio held 279,355 shares.
On Feb. 20, Alex Macedo, President, North America for the Burger King brand, exercised his options, receiving 119,905 shares, and divested 51,870 shares at an average price per share of approximately U.S.$59.31.
In a previous issue, we reported that Director Ali Hedayat acquired 5,000 shares at an average price per share of $72.86 on Feb. 14, raising his portfolio's holdings to 35,000 shares.