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

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Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships. The article 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 a company that has had recent insider buying activity.

Yamana Gold Inc. (YRI-T)

There has been active buying activity with six insiders accumulating shares in the market in recent days.

Between Nov. 8 and Nov. 17, Chairman and Chief Executive Officer Peter Marrone has purchased 225,900 shares, increasing his portfolio's holdings to 301,477 shares.

In a relatively small transaction, Lead Director Richard Graff bought 10,000 shares at an average price per share of $2.71 (U.S.) on Nov. 13, increasing his portfolio's holding to 43,949 shares.

Sofia Tsakos, Senior Vice-President – General Counsel and Corporate Secretary, acquired 10,000 shares at an average price per share of $3.40 (Cdn) on Nov. 13, boosting her account's holdings to 143,023 shares.

On Nov. 10, Robert Gallagher, who sits on the board of directors, purchased 58,200 shares at an average price per share of $3.41 (Cdn), initiating a portfolio position.

On Nov. 9, Chief Operating Officer Daniel Racine acquired 100,000 shares, increasing his portfolio's position to 151,278 shares.

That same day, Director Jane Sadowsky initiated a portfolio position with the purchase of 18,500 shares at an average cost per share of $2.70 (U.S.).

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The following company has had recent insider selling activity.

Gildan Activewear Inc. (GIL-T)

In recent days, there has been insider selling by five management executives.

Between Nov. 14 and Nov. 17, President and Chief Executive Officer Glenn Chamandy sold 437,719 shares at an average price per share above $38, leaving a closing balance of 140,159 shares in his account.

On Nov. 14, Mike Hoffman, the President of Printwear, divested 30,000 shares at an average price per share of $38.41, leaving 24,719 shares in the account.

That same day, Benito Masi, Executive Vice-President – Manufacturing, trimmed 10,000 shares at an average price per share of $38.31, taking his portfolio's position down to 142,987 shares.

Jonathan Roiter, Senior Vice-President of Operations and Corporate Development, sold a total of 42,280 shares between Nov. 14 and Nov. 17, leaving a remaining portfolio balance of 5,960 shares.

Lastly, Nicolas Lavoie, Senior Vice-President – Finance, unloaded 2,000 shares on Nov. 13 with 1,188 shares remaining in his account.

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The following two companies have had mixed trading with both buying and selling activity reported by insiders.

Andrew Peller Ltd. (ADW-A- T)

On Nov. 16, President Randy Powell purchased 15,500 shares at an average cost per share of $12.89, increasing his account's holdings to 40,054 shares.

On Nov. 9, Colin Campbell, Vice-President – Sales, Western Canada, sold 7,500 shares at an average price per share of $12.65, taking his portfolio's position down to 16,231 shares.

Cineplex Inc. (CGX-T)

On Nov. 14, Sarabjit Marwah, who sits on the board of directors, acquired 5,000 shares at an average price per share of $37.07, boosting his account's holdings to 10,000 shares.

The previous day, Lori Legault, Executive Vice-President – Sales Cineplex Media, sold 1,625 shares at an average price per share of $37.13, eliminating her portfolio position.

Last week, we reported that Chief Financial Officer Gord Nelson took advantage of the share price weakness, purchasing 4,000 shares at an average price per share of $36 on Nov. 9, raising his portfolio's holdings to 72,243 shares.