A Sobeys supermarket in Toronto.Fred Lum/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 detailing a company with recent insider buying activity.
Empire Company Limited (EMP.A-T)
On September 22, the company's president and chief executive officer Michael Medline purchased 11,000 shares at an average cost per share around the $22.50 level for an account in which he has indirect ownership (2436212 Ontario Limited), initiating a portfolio position.
In a previous report, we indicated that Michael Vels, the recently appointed chief financial officer (the former CFO at Hydro One), acquired 5,000 shares at an average price of $20.16 per share on July 27, lifting his portfolio's holdings to 8,000 shares.
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The following companies have had recent insider selling activity.
Advantage Oil & Gas Ltd. (AAV-T)
On September 25, the company's chief financial officer Craig Blackwood sold 10,000 shares at an average price per share of $8.25. Prior to that, he sold 4,600 shares on September 20 and divested 5,400 shares on September 19. After these sales, his remaining portfolio balance was significant at 395,494 shares.
On September 19, the firm's president and chief executive officer Andy Mah trimmed 15,000 shares from his portfolio at an average price per share of $8.01, leaving 1,023,196 shares in his portfolio.
Cervus Equipment Corp. (CERV-T)
On September 28, Don Bell, who sits on the board of the directors, sold 3,156 shares at an average price per share of $13.70 for an account in which he has indirect ownership (Bell Family Trust). Two days prior, on September 26, he divested 7,810 shares for this account. After these transactions, the portfolio's position was eliminated.
Stella-Jones Inc. (SJ-T)
On September 22, Glen Ritchie, vice-president – fibre, sold 1,000 shares at an average price per share of $48.70, leaving 5,000 shares in his portfolio.
TECSYS Inc. (TCS-T)
On September 27, the president and chief executive officer Peter Brereton sold 67,920 shares at an average price per share of $14.90, leaving 364,671 shares in his portfolio.
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Jennifer Dowty