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 two securities that have had recent buying activity reported by insiders.
Choice Properties Real Estate Investment Trust (CHP-UN-T)
Between Sept. 27 and 30, Rashid Wasti bought a total of 6,000 units at an average cost per unit of approximately $14.49, increasing this specific account’s holdings to 74,000 units. The cost of these purchases totaled nearly $87,000, excluding trading fees.
Mr. Wasti is the executive vice-president and chief talent officer at George Weston Limited (WN-T). George Weston Limited has three core reporting segments: Weston Foods, Loblaw, and Choice Properties.
Firm Capital Property Trust (FCD.UN-X)
Between Sept. 28 and Oct. 1, independent trustee Manfred Walt invested over $105,000 in units of FCPT. He purchased a total of 15,000 units at an average price per unit of roughly $7.01 for an account in which he has indirect ownership (Walt & Co.), lifting this specific account’s holdings up to 314,511 units.
The Trust pays its unitholders a monthly distribution of 4.25 cents per trust unit or 51 cents per unit yearly, equating to a current annualized yield of 7.3 per cent.
Listed below are three stocks that have had recent selling activity reported by insiders.
Advantage Energy Ltd. (AAV-T)
On Oct. 4 and 5, chief executive officer Andy Mah sold 700,000 shares at an average price per share of approximately $6.28, trimming this particular account’s position to 610,624 shares. Proceeds from the sales exceeded $4.3-million, excluding commission charges.
Evertz Technologies Ltd. (ET-T)
On Oct. 1, chief technology officer Rakesh Patel divested 61,800 shares at an average price per share of roughly $14.20, after which this specific account held 153,900 shares. Proceeds from this sale totaled over $877,000, not including trading fees.
Facedrive Inc. (FD-X)
Between Sept. 22 and Oct. 6, Sayanthan Navaratnam sold a total of 6,883,000 shares at an average price per share of approximately $1.715 from two accounts in which he has indirect ownership. One account (2731568 Ontario Inc.) had 5,358,930 shares remaining in it after the sales. The other account (Malar Group Inc.) held 17,587,860 shares after these trades. Proceeds from the sales exceeded $11.8-million, not including commission charges.
Effective Sept. 1, Mr. Navaratnam resigned as the company’s chairman and chief executive officer.
In the Management’s Discussion and Analysis (MD&A) issued on Aug. 30, several management changes were highlighted, “On August 25, 2021, Sayan Navaratnam provided notice of his intention to step down as Chief Executive Officer and Chairman of the Board of Directors (the “Board”) of the Company effective September 1, 2021. Similarly, on August 25, 2021, Bill Kanters, a member of the Board, provided notice of his intention to resign as of September 1, 2021 and Heung Hung Lee also provided notice of her intention to transition out of her role as Chief Financial Officer of the Company effective as of September 24, 2021. Suman Pushparajah, the Company’s current Chief Operating Officer and also a Director of the Company, will be promoted to the role of Chief Executive Officer while Junaid Razvi, a founder of the Company and also a Director, will be appointed as the Company’s new Chairman of the Board as of September 1, 2021. The Company is in the process of discussing and interviewing possible replacements for the Chief Financial Officer position. Mujir Muneeruddin, current Executive Vice-President of M&A and Strategy and Chief Legal Officer of the Company, will be appointed as a Director of the Company on September 1, 2021 to fill the vacancy on the Board created by the departure of Mr. Navaratnam.”
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