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 in the public market reported by insiders.
Neighbourly Pharmacy Inc. (NBLY-T)
On June 15, chairman of the board of directors Stuart Elman bought 33,707 shares at a price per share of $17.78 for his RRSP, initiating a position in this specific account. The cost of this investment totaled more than $599,000.
Power Corporation of Canada (POW-T)
On June 13, president and chief executive officer Jeff Orr invested over $872,000 in shares of Power Corp. He purchased 25,000 shares at a cost per share of $34.89, after which this specific account held 625,000 shares.
The company pays its shareholders a quarterly dividend of 52.5 cents per share or $2.10 per share yearly, equating to a current annualized dividend yield of 6 per cent.
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The following two stocks have had recent selling activity in the public market reported by insiders.
Gildan Activewear Inc. (GIL-T)
On June 12, president of manufacturing Benito Masi exercised his options, receiving 25,000 shares at a cost per share of $33.01 and sold 25,000 shares at a price per share of $39.7406. Net proceeds exceeded $168,000, not including any associated transaction charges. In addition, that day he sold 10,000 shares at a price per share of US$29.8146. Proceeds from this sale totaled more than US$298,000, excluding trading fees. After these transactions, this particular account held 301,228 shares.
Toromont Industries Ltd. (TIH-T)
On June 13, Dave Malinauskas exercised his options, receiving 3,000 shares at a cost per share of $66.22 and sold 3,000 shares at a price per share of $106.50. Net proceeds exceeded $120,000, not including any associated transaction charges.
Mr. Malinauskas is the president of CIMCO Refrigeration, a division of Toromont.
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Jennifer Dowty