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.
iA Financial Corporation Inc. (IAG-T)
On Nov. 19, president and chief executive officer Denis Ricard acquired 2,000 shares at a price per share of $72, after which this particular account held 44,000 shares. The cost of this purchase totaled $144,000, excluding trading fees.
On Nov. 19, executive vice-president of information technology and investment operations Pierre Miron invested over $100,000 in shares of iA Financial. He purchased 1,400 shares at a cost per share of $71.50, taking this specific account’s position up to 3,400 shares.
Year-to-date, the share price has rallied 25 per cent and closed at a record high of $76.11 on Nov. 3.
In a news release issued on Nov. 8, management announced an additional dividend of 14 cents per share, bringing the total quarterly dividend up to 62.5 cents per share. On Dec. 15, this dividend will be payable to shareholders of record as of Nov. 19. Furthermore, the company increased its dividend payout ratio target range to between 25 per cent and 35 per cent.
Mr. Ricard said, “We are pleased to share the value created in recent quarters with our shareholders by increasing the dividend by 29 per cent. In addition, we will now use core earnings to establish the dividend payout ratio target, which will thereby result in an increase in the dividend payable to our shareholders.”
Payfare Inc. (PAY-T)
On Nov. 19, two individuals were buyers in the public market.
Co-founder, chief executive officer and chairman Marco Margiotta invested $99,000 in shares of Payfare. He bought 11,000 shares at a price per share of $9, lifting this specific account’s holdings to 1,043,121 shares.
Co-founder and director Keith McKenzie acquired 19.500 shares at a price per share of $8.85, increasing this particular account’s position to 2,270,900 shares. The cost of this purchase exceeded $172,000.
Prior to that, on Nov. 15 chief financial officer and corporate secretary Charles Park purchased 8,000 shares at a price per share of $8.80, after which this particular account held 359,786 shares.
Uni-Select Inc. (UNS-T)
Between Nov. 18 and 26, Mike Sylvester invested over US$441,000 in shares of Uni-Select. He acquired 24,500 shares at an average price per share of approximately US$18.04, initiating a position in this specific account.
Mr. Sylvester is the president and chief operating officer of FinishMaster Inc., a subsidiary of Uni-Select.
Listed below are two stocks that have had recent selling activity reported by insiders.
Spin Master Corp. (TOY-T)
On Nov. 15 and 16, executive vice-president of global operations and technology Paul Blom divested a total of 12,000 shares at an average price per share of roughly $48.39, reducing this specific account’s holdings to 9,259 shares. Proceeds from the sales exceeded $580,000, not including commission fees.
Wesdome Gold Mines Ltd. (WDO-T)
On Nov. 16, vice-president of human resources Stacy Kimmett exercised her options, receiving 50,000 shares at a cost per share of $3.23, and sold 50,000 shares at a price per share of $13.01 with 14,944 shares remaining in this particular account. Net proceeds totaled $489,000, not including any associated transaction fees.
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.