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.
The following stock has had recent buying activity in the public market reported by an insider.
Canadian Imperial Bank of Commerce (CM-T)
On Dec. 28, Ammar Aljoundi, who sits on the board of directors, bought 8,000 shares at a cost per share of $63.63, increasing the holdings in this specific account to 12,000 shares. The cost of this purchase totaled more than $509,000.
Mr. Aljoundi is the president and chief executive officer of Agnico Eagle Mines Ltd. (AEM-T).
Since the beginning of November, CIBC’s share price has rallied roughly 30 percent. Given the rapid move in the stock price, the relative strength index, RSI, is at 82. Generally, an RSI reading at or above 70 reflects an overbought condition.
**
The following three securities have had recent selling activity in the public market reported by insiders.
Barrick Gold Corp. (ABX-T)
On Dec. 29, chief operating officer of Africa and the Middle East Sebastiaan Bock sold 5,000 shares at a price per share of US$17.99, reducing this particular account’s position to 85,796 shares. Proceeds from the sale totaled approximately US$90,000, excluding trading fees.
George Weston Ltd. (WN-T)
On Dec. 29, president and chief financial officer Richard Dufresne exercised his options, receiving 15,000 shares at a cost per share of $104.81 and sold 15,000 shares at a price per share of $163.3981, after which this particular account held 16,498 shares. Net proceeds exceeded $878,000, excluding any associated transaction fees.
Pempina Pipeline Corp. (PPL-T)
On Dec. 20, senior vice-president and chief operating officer Jaret Sprott exercised his options, receiving a total of 33,865 shares at an average price per share of approximately $32.52, and sold 33,865 shares at a price per share of $45.005, after which this specific account did not hold any shares. Net proceeds exceeded $422,000, not including any associated transaction charges.
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.
Jennifer Dowty