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.
Bank of Montreal (BMO-T)
On March 3, chief executive officer Darryl White invested more than $1-million in shares of this oversold bank stock. He acquired 7,654 shares at a cost per share of $130.68, increasing this specific account’s holdings to 45,229 shares.
Last week, we reported chair of the board George Cope bought 17,000 shares at a price per share of $129.50 on March 3, after which this particular account held 80,160 shares. The cost of this purchase exceeded $2.2-million.
Over the past month, BMO’s share price has declined 10 per cent putting it in oversold territory with a relative strength index (RSI) reading of 24. Generally, an RSI reading at or below 30 reflects an oversold condition.
Brookfield Renewable Partners L.P. (BEP-UN-T)
On March 3, Lou Maroun, who sits on the board of directors, invested over $984,000 in units of Brookfield Renewable. He bought 26,500 units at an average cost per unit of roughly $37.13, increasing this specific account’s position to 49,000 units.
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Listed below are two stocks that have had recent selling activity in the public market reported by insiders.
Canadian National Railway Co. (CNR-T)
On March 6, executive vice-president and chief marketing officer Doug MacDonald exercised his options, receiving a total of 42,817 shares at an average cost per share of approximately $93.49 and sold 42,817 shares at an average price per share of roughly $161.275, after which this particular account held 17,090 shares. Net proceeds exceeded $2.9 million, not including any associated transaction fees.
Toronto-Dominion Bank (TD-T)
On March 6, president and chief executive officer of TD Securities Riaz Ahmed exercised his options, receiving 37,832 shares at a cost per share of $47.59, and sold 37,832 shares at a price per share of $89.01. This particular account currently holds 394,832 shares. Net proceeds totaled more than $1.5-million, excluding any associated transaction charges.
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Jennifer Dowty