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 is a stock that has had recent buying activity reported by an insider.
CI Financial Corp. (CIX-T)
On June 17, chairman of the board Bill Holland invested an additional $1-million in this dividend stock. He acquired 50,000 shares at a cost per share of $21.7988 for an account in which he has indirect ownership (WH Corp.), increasing this particular account’s holdings to 800,000 shares.
Last week, we reported that Mr. Holland invested over $1-million, purchasing 50,000 shares at a cost per share of $21.8686 for this account.
Mr. Holland is also the company’s former chief executive officer.
Year-to-date, the share price is up 38 per cent.
The company pays its shareholders a quarterly dividend of 18 cents per share or 72 cents per share yearly, equating to a current annualized yield of 3.3 per cent.
Listed below are four securities that have had recent selling activity reported by insiders.
Descartes Systems Group Inc. (DSG-T)
On June 9, executive vice-president – corporate development Ed Gardner exercised his options, receiving 8,000 shares at a cost per share of $36.44, and sold 8,000 shares at a price per share of $78.86, eliminating his position in this specific account. Net proceeds exceeded $339,000, excluding any associated transaction fees.
Inovalis Real Estate Investment Trust (INO.UN-T)
On June 11, Michael Missaghie, who sits on the board of trustees, divested a total of 34,800 units at a price per unit of $10.0499 for two accounts in which he has control or direction over. Proceeds from the sales totaled over $349,000. After these sales, these two accounts held 129,239 units and 433,561 units.
MAG Silver Corp. (MAG-T)
Between June 9-11, director Dan MacInnis sold a total of 25,000 shares at an average price per share of approximately $27.90, trimming this particular account’s position to 167,488 shares. Proceeds from sales exceeded $697,000, not including commission charges.
Mogo Inc. (MOGO-T)
Between June 7-10, director Michael Wekerle divested a total of 68,942 shares at an average price per share of approximately $9.185 for two accounts, leaving 3,871,956 shares in one account and 102,001 shares in the other account. Proceeds from the sales exceeded $633,000, excluding trading fees.
Mr. Wekerle appeared as a former investor on CBC’s popular TV show Dragons’ Den.
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