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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.

Cardinal Energy Ltd. (CJ-T)

Between June 6-13, John Brussa, who sits on the board of directors, invested over $424,000 in shares of Cardinal. He bought a total of 50,000 shares at an average cost per share of roughly $8.49 for two accounts, lifting one account’s position to 3,566,354 shares and the other account (RRSP) to 279,000 shares.

Slate Office REIT (SOT-UN-T)

Between June 7-16, Sime Armoyan, with an ownership position exceeding 10 per cent, invested over $5.3-million in units of this REIT. She acquired a total of 1,130,700 units at an average cost per unit of approximately $4.73 for an account in which she has control or direction over (Armco Alberta Inc.), increasing this specific account’s holdings to 9,454,900 units.

The REIT pays its unitholders a monthly distribution of 3.33 cents per trust unit or 40 cents per unit yearly, equating to a current annualized yield of approximately 8.8 per cent.

According to Refinitiv, the REIT has two buy recommendations and seven neutral recommendations with an average 12-month target price of $5.19.

The relative strength index, RSI, is at 25. Generally, an RSI reading at or below 30 reflects an oversold condition.

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Listed below are two stocks that have had recent selling activity in the public market reported by insiders.

Aimia Inc. (AIM-T)

On June 6, Christopher Mittleman sold 74,200 shares at a price per share of US$3.4782, reducing this particular account’s position to 850,001 shares. Proceeds from the sale exceeded US$258,000, not including commission charges.

In March 2022, Mr. Mittleman stepped down from his position as the company’s chief investment officer. His brother, Philip Mittleman, is Aimia’s chief executive officer.

CGI Inc. (GIB.A-T)

On June 13, Laurent Gerin, president of western and southern Europe operations, exercised his options receiving 3,333 shares at a cost per share of $48.16, and sold 3,333 shares at a price per share of $98.50, after which this particular account did not hold any shares. Net proceeds exceeded $167,000, excluding any associated transaction fees.

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