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Inside the Market Monday’s Insider Report: Canadian billionaire businessman invests over $700,000 in this little-known 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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Listed below are three stocks that have had recent insider buying activity.

Methanex Corp. (MX-T)

On Feb. 4, Jim Bertram, who was appointed to the board of directors in 2018, bought 2,600 shares at a cost per share of U.S.$55.624, initiating a position in his RRSP account. The purchase price for this investment was over U.S.$144,000.

Mogo Finance Technology Inc. (MOGO-T)

On Feb. 1, Michael Wekerle, formerly on CBC’s Dragons’ Den, acquired 100,000 shares at a price per share of $3 for an account in which he has control or direction over (Difference Capital Financial Inc.), increasing the account’s holdings to 2,549,163 shares.

Royal Nickel Corp. (RNX-T)

Between Jan. 28 and Jan. 30, Canadian billionaire businessman Eric Sprott, with an ownership position exceeding 10 per cent, invested over $732,000 in shares of this company. He purchased a total of 1,176,500 shares at an average price per share of approximately 62 cents for an account in which he has indirect ownership (2176423 Ontario Ltd.), raising the account’s position to 47,913,542 shares.

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Listed below is a stock that has had recent selling activity reported by several management executives. .

Open Text Corp. (OTEX-T)

On Feb. 4 and Feb. 5, Muhi Majzoub, executive vice-president - engineering, exercised his options and sold the corresponding number of shares received (100,000) at an average price per share of approximately U.S.$37.5991, leaving 70,595 shares in his account. Proceeds from the sales totaled over U.S.$3.7-million.

On Feb. 4, chief information officer David Jamieson exercised his options, receiving 37,742 shares, and sold 45,947 shares at an average price per share of approximately U.S.$37.01. His remaining account balance stood at 3,688 shares. Proceeds totaled over U.S.$1.7-million.

On Feb. 4, chief accounting officer Aditya Maheshwari exercised his options and sold the corresponding number of shares (25,000) at a price per share of U.S.$37.0665 with just 1,155 shares remaining in his portfolio. Proceeds from the sale totaled over U.S.$926,000.

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