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 or perhaps shares may be sold to address tax implications when options and rights are exercised. 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. In addition, I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units. Furthermore, it can be of value to note if an insider’s share or unit balance (investment in the company) is trending higher or lower.
Listed below are two securities that have had recent buying activity reported by insiders.
Currency Exchange International Corp. (CXI-T)
Between July 8 and July 15, director Mark Mickleborough acquired a total of 5,400 shares at an average price per share of approximately $11.42. The cost of these purchases exceeded $61,000.
Tourmaline Oil Corp. (TOU-T)
On July 3, chairman, president, chief executive officer and founder Mike Rose invested over $123,000 in shares of the company. He acquired 10,000 shares at a price per share of $12.3756, raising this account’s holdings to 8,636,337 shares.
Listed below are two stocks that have had selling activity reported by insiders.
Dollarama Inc. (DOL-T)
On July 14, chief operating officer Johanne Choinière exercised her options, receiving 82,000 shares at a cost per share of $14.7967, and sold 82,000 shares at a price per share of $46.8768, leaving 66,000 shares in this particular account. Net proceeds, not including any associated trading costs, totaled over $2.6-million.
MAG Silver Corp. (MAG-T)
Multiple insiders have been sellers in recent days.
On July 8 and July 9, president, chief executive officer, and director George Paspalas exercised his options, receiving 100,000 shares at a cost per share of $9.28, and sold 100,000 shares at an average price per share of roughly $20.34, after which this particular account held 211,052 shares. Net proceeds, excluding trading fees, exceeded $1.1-million.
On July 9, Richard Clark, who sits on the board of directors, sold 38,513 shares at a price per share of $20.50, eliminating his position in this specific account. Proceeds from the sale, not including commission charges, totaled over $789,000.
On July 8, director Dan MacInnis sold 42,300 shares at a price per share of $19.50 with 242,488 shares remaining in this specific account. Proceeds from the sale, not including commission charges, totaled over $824,000.
On July 8, Michael Curlook, vice-president – investor relations and communications, exercised his options, receiving 10,000 shares at a cost per share of $9.28, and sold 10,000 shares at a price per share of $20.36, leaving 96,743 shares in this specific account. Net proceeds, excluding trading fees, exceeded $110,000.