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Inside the Market Monday’s Insider Report: Director invests over $900,000 in this Canadian bank stock

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.

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Listed below are two stocks that have had recent buying activity reported by insiders.

Bank of Montreal (BMO-T)

On Aug. 30, director Philip Orsino invested over $900,000 in shares of this bank stock. He acquired 10,000 shares at a price per share of $91.70, lifting his account balance to 75,000 shares.

Bird Construction Inc. (BDT-T)

Between Aug. 20 and Sept. 3, Gilles Royer, executive vice-president – industrial, purchased a total of 103,100 shares across two accounts at an average price per share of approximately $5.27. The cost of these investments totaled over $543,000.

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Listed below are two stocks that have had recent selling activity reported by insiders.

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Franco-Nevada Corp. (FNV-T)

On Aug. 27, Eaun Gray, vice-president of business development, exercised his options, receiving 5,000 shares at a cost per share of $59.52, and sold 5,000 shares at a price per share of $130, leaving 203 shares in his account. Net proceeds, not including commission charges, exceeded $350,000.

Magna International Inc. (MG-T)

On Sept. 4, chief legal officer Riccardo Trecroce exercised his options, receiving 13,072 shares at a cost per share of $51.62, and sold 13,072 shares at a price per share of $66.60, with 17,297 shares remaining in his account. Net proceeds, excluding brokerage fees, totaled over $195,000.

On Aug. 28, chief executive officer Don Walker sold 60,000 shares at a price per share of $64.20 with 1,334,475 shares remaining in his portfolio. Gross proceeds totaled over $3.8-million.

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