Empire owns the Sobeys grocery-store chain.Brent Lewin/Bloomberg
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 two companies with recent insider buying activity.
Empire Company Limited (EMP.A-T)
On Oct. 17, the company's chief financial officer Michael Vels acquired 2,000 shares at an average price per share of $22.21, increasing his portfolio's position to 20,000 shares.
Last week, we reported that the company's president and chief executive officer Michael Medline purchased 6,800 shares at an average cost per share of $21.8684 on Oct. 11 for an account in which he has indirect ownership (2436212 Ontario Limited), increasing the portfolio's position to 17,800 shares.
Tourmaline Oil Corp. (TOU-T)
On Oct. 18, Ronald Hill, vice-president of exploration, bought 8,000 shares at an average cost per share of $22.89, increasing his portfolio's position to 344,746 shares.
The company's chairman, president and chief executive officer Michael Rose has also been a buyer in the market, acquiring 11,000 shares between Oct. 4 and Oct. 11, lifting his sizable portfolio position to 10,226,326 shares.
=====
The following company has had recent insider selling activity.
Parex Resources Inc. (PXT-T)
On Oct. 13, chairman of the board of directors Wayne Foo sold 300,000 shares at an average price per share of $16.0003 for an account that he has control or direction over (2027395 Alberta Ltd.), eliminating the portfolio's position.
=====
The following company has had mixed trading, albeit relatively small trades, with both insider buying and selling activity.
CI Financial Corp. (CIX-T)
On Oct. 17, chief financial officer Douglas Jamieson purchased 1,000 shares at an average price per share of $28.00 for an account in which has control or direction over.
That same day, president and general counsel Sheila Murray exercised her options and sold the corresponding number of shares (653) at an average price per share around the $28 level, leaving 71,512 shares in her account.
Jennifer Dowty