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.
Listed below are three securities that have had recent buying activity reported by insiders.
Cominar Real Estate Investment Trust (CUF-UN-T)
On Oct. 30, Sime Armoyan, with an ownership position exceeding 10 per cent, invested over $3.8-million in units of this REIT. She purchased 536,800 units at a price per unit of $7.1173 for an account in which she has control or direction over (G2S2 Capital Inc.), increasing this particular account’s holdings to 19,381,900 units.
Cominar REIT pays its unitholders a monthly distribution of 3 cents per unit or 36 cents per unit yearly, equating to a current annualized yield of 4.5 per cent.
Year-to-date, the unit price is down over 40 per cent.
MEG Energy Corp. (MEG-T)
Between Oct. 29 and Nov. 3, president, chief executive officer and director Derek Evans acquired a total of 220,000 shares at an average cost per share of approximately $2.34, after which this specific account held 353,762 shares. The cost of these purchases totaled over $515,000.
Year-to-date, the share price has declined by 67 per cent.
OceanaGold Corp. (OGC-T)
On Oct. 30, director Craig Nelsen acquired 110,000 shares at an average price per share of roughly $1.71, raising this specific account’s position to 210,000 shares. The cost of the investment exceeded $188,000.
On Oct. 30, chairman Ian Reid purchased a total of 100,000 across two separate accounts.
Year-to-date, the share price has fallen 21 per cent.
Listed below is a stock that has had recent selling activity reported by an insider.
Gildan Activewear Inc. (GIL-T)
On Oct. 30, Benito Masi, president of manufacturing, exercised his options, receiving 43,628 shares at a cost per share of $24.215, and sold 43,628 shares at a price per share of $28.206, with 172,448 shares remaining in this particular account. Net proceeds totaled over $174,000, not including any associated transaction fees.
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