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The Globe and Mail

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

Burger King french fries stuffed into a Tim Hortons coffee cup outside a Burger King in Richmond, B.C., Aug. 26, 2014.

John Lehmann/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 two companies that have had recent insider buying activity.

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Ag Growth International Inc. (AFN-T)

On Nov. 15, President and Chief Executive Officer Tim Close acquired 1,000 shares at an average cost per share of $49.80. The prior day, he bought 1,298 shares at an average price per share of $50.24. After these two purchases, his portfolio held 77,352 shares.

Enerflex Ltd. (EFX-T)

On Nov. 14, Maureen Cormier Jackson, who sits on the board of directors, purchased 5,000 shares at an average cost per share of $15.347, initiating a portfolio position.

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The following stock has had recent insider selling activity by two insiders.

Magna International Inc. (MG-T)

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On Nov. 13, Chief Executive Officer Donald Walker sold 200,000 shares at an average price per share of $67.37, trimming his sizeable portfolio position down to 1,208,455 shares. In a separate account for which he has control or direction over, he exercised his options and sold the corresponding number of shares (120,000) over the next few days, eliminating the portfolio's position.

On Nov. 14, Marc Neeb, Executive Vice-President and Chief Human Resources Officer, exercised his options and sold the corresponding number of shares (43,332) at an average price per share of $67.20, leaving 39,687 shares in the account.

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The following company has had mixed trading with both buying and selling activity reported by insiders.

Restaurant Brands International Inc. (QSR-T)

From Nov. 3 through to Nov. 16, José Cil, president of the Burger King brand, exercised his options, receiving 467,794 shares. He sold 211,877 shares during this period, leaving 512,004 shares in his account.

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On Nov. 8, Paul Fribourg, who sits on the board of directors, bought 384,024 shares at an average cost per share of $65.10 (U.S.) for an account that he has control or direction over (Continental Grain Company), initiating a portfolio position.

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