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 is a stock that has had recent buying activity reported by an insider.
Turquoise Hill Resources Ltd. (TRQ-T)
On Aug. 15, chief executive officer Ulf Quellmann bought 172,500 shares at a price per share of 65 cents, increasing his portfolio’s position to 192,100 shares. The cost of this purchase exceeded $112,000.
Listed below are three stocks that have had recent selling activity reported by insiders.
George Weston Limited (WN-T)
On Aug. 19, director and the former president and chief executive officer of George Weston Limited Paviter Binning exercised his options, receiving 235,926 shares at an approximate cost per share of $78.02, and sold 235,926 shares at a price per share of $107.0143. Net proceeds from the sale, excluding commission charges, exceeded $6.8-million. After these transactions, his account balance stood at 78,593 shares.
On Aug. 16, president and chief financial officer Richard Dufresne exercised his options, receiving 31,478 shares at a cost per share of $73.73, and sold 31,478 shares at a price per share of approximately $106.93, leaving 995 shares in his account. Net proceeds, not including brokerage fees, exceeded $1-million.
On Aug. 15 and Aug. 16, Rashid Wasti, executive vice-president and chief talent officer, exercised his options, receiving 16,352 shares at a cost per share of $100.59, and sold 16,352 shares at a price per share of approximately $106.49, leaving 10,200 shares in his portfolio. Net proceeds, excluding commission fees, totaled over $96,000.
Richards Packaging Income Fund (RPI-UN-T)
On Aug. 16, Tim McKernan, president of McKernan Packaging (a subsidiary of the Fund), sold 404,232 units at a price per unit of $40 for an account in which he has indirect ownership (McKernan Arnold Family Trust), eliminating this account’s holdings. Gross proceeds from the sale exceeded $16-million.
Waste Connections Inc. (WCN-T)
On Aug. 15, Ned Guillet, who sits on the board of directors, sold 20,000 shares at a price per share of U.S.$90.4125 with 41,193 shares remaining in his account. Gross proceeds from the sale totalled over U.S.$1.8-million.
Previously, we reported the following trades.
On Aug. 6, chief information officer Eric Hansen sold 5,500 shares at a price per share of U.S.$90, leaving 5,144 shares in his portfolio. Gross proceeds from the sale totaled U.S.$495,000.
On Aug. 2, chief operating officer Darrell Chambliss divested 14,100 shares at an average price per share of approximately U.S.$89.55, leaving 90,000 shares in his account. Gross proceeds from the sale exceeded U.S.$1.2-million.
On Aug. 2, James Little, executive vice-president – engineering and disposal, sold 10,000 shares at a price per share of U.S.$89.7432 with 20,280 shares remaining in his account. Gross proceeds totaled over U.S.$897,000.
On Aug. 1, William Razzouk, who sits on the board of directors, divested 6,000 shares at a price per share of U.S.$90.2867, decreasing his account balance to just over 13,900 shares. Gross proceeds from the sale exceeded U.S.$541,000.