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

Air Canada planes are pictured at Toronto Pearson International Airport in this file photo.

Matthew Sherwood/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.

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 three companies that have had recent insider buying activity.

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Alaris Royalty Corp. (AD-T)

On Nov. 9, two management executives were buyers in the market.

President and Chief Executive Officer Steve King bought a total of 5,600 shares for two accounts, one in which he has direct ownership and the other for which he has indirect ownership. For his personal account, he accumulated 3,200 shares at an average price per share of $18.88, boosting his portfolio's holdings to 702,323 shares.

In addition, Chief Financial Officer Darren Driscoll accumulated 5,000 shares at an average price per share around the $18.78 level. After this transaction, his portfolio's position stood at 340,008 shares.

Marathon Gold Corp. (MOZ-T)

On Nov. 6, BCI Ventures Inc., with an ownership position exceeding 10 per cent, acquired 1.1-million shares at an average price per share of $1.00, raising the account's holdings to 15,939,648 shares.

RioCan Real Estate Investment Trust (REI.UN-T)

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On Nov. 9, President and Chief Operating Officer Raghunath Davloor purchased 10,000 units at an average price per unit of $25.60 in a joint account, taking the account's holdings up to 94,357 units. That same day, in a separate account in which he has direct ownership, he accumulated 1,000 units at an average price per unit of $25.63, lifting the portfolio's position up to 19,132 units.

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The following company has had recent insider selling activity.

Air Canada (AC-T)

On Nov. 7, Duncan Bureau, vice-president of global sales, exercised his options and was a seller in the market. He sold 8,710 shares at an average price per share around the $23.60 level, leaving 527 shares in his portfolio.

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