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Inside the Market Friday’s Insider Report: CEO buys over $3-million worth of this stock

Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.

The list 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.

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Let's begin the report featuring three securities that have had recent insider buying activity.

ECN Capital Corp. (ECN-T)

Between Aug. 15 and Aug. 30, chief executive officer Steve Hudson purchased over $3-million worth of stock. He bought a total of 859,534 shares at an average cost per share of approximately $3.71 for an account in which he has indirect ownership, increasing the account’s holdings to 11,557,989 shares.

H&R Real Estate Investment Trust (HR.UN-T)

On Aug. 31, Alex Avery, who sits on the board of trustees, acquired 10,000 units at a price per unit of $20.20, doubling his portfolio’s position to 20,000 units.

Tourmaline Oil Corp. (TOU-T)

President and chief executive officer Michael Rose continues to steadily accumulate shares in the market. Most recently, on Sept. 5, Mr. Rose acquired 5,000 shares at an average price per share of approximately $19.84, and on Sept. 4, he bought 5,000 shares at a cost per share of $20.547. These purchases have lifted his portfolio’s holdings to 10,365,097 shares.

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The following security has had recent insider selling activity.

Cominar Real Estate Investment Trust (CUF.UN-T)

On Sept. 4, Carl Pepin, vice-president – finance and accounting, sold 10,752 units at a price per unit of $12.065, leaving 11,831 units remaining in his account.

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The following stock has had mixed trading with both buying and selling activity reported.

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Detour Gold Corp. (DGC-T)

On Aug. 8, interim chief executive officer Michael Kenyon exercised his options, receiving 90,000 shares, and sold 82,927 shares at a price per share of $12.73. However, with the share price spiraling down in August, on Sept. 4, he accumulated 5,000 shares at a cost per share of $10.49. His closing account balance after these transactions was 84,573 shares.

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