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.
Algonquin Power & Utilities Corp. (AQN-T)
On Nov. 14, director Arun Banskota bought 120,000 shares at a price per share of $12.30. The cost of this purchase exceeded $1.4-million. The following day, Mr. Banskota acquired 11,000 shares at a cost per share of US$7.86 for an investment of US$86,000. After these transactions, this specific account held 207,096 shares.
Between Nov. 14-16, director Christopher Huskilson bought a total of 36,500 shares at an average price per share of roughly $10.89, after which this specific account held 70,740 shares. The cost of these purchases exceeded $397,000.
On Nov. 14, director Dan Goldberg invested over $498,000 in shares of AQN. He purchased 40,500 shares at a cost per share of $12.30, initiating a position in this specific account.
Before the market opened on Nov. 11, the company released weaker-than-expected third-quarter financial results and management lowered its earnings outlook for 2022. Since then, the share price has tumbled 33 per cent. The stock is now technically oversold with a relative strength index (RSI) reading of 22. Generally, an RSI reading at or below 30 reflects an oversold condition.
Investor Clinic: Algonquin must repair its finances – and investors’ trust
BCE Inc. (BCE-T)
On Nov. 14, director Louis Vachon purchased 5,000 shares at a cost per share of $62.72, initiating a position in this particular account. The cost of this investment exceeded $313,000.
In Oct. 2022, Mr. Vachon was appointed to BCE’s board of directors. In Oct. 2021, Mr. Vachon retired from his position as the president and chief executive officer of the National Bank of Canada (NA-T).
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Listed below are two stocks that have had recent selling activity in the public market reported by insiders.
Barrick Gold Corp. (ABX-T)
On Nov. 10, Sebastiaan Bock, chief operating officer of Africa and the Middle East, sold 10,986 shares at a price per share of US$16.1159, reducing this specific account’s holdings to 42,495 shares. Proceeds from the sale exceeded US$177,000, excluding trading fees.
Calfrac Well Services Ltd. (CFW-T)
On Nov. 10-11, Sime Armoyan, with an ownership position exceeding 10 per cent, sold a total of 813,596 shares at an average price per share of approximately $7.26 for an account in which she has control or direction over (Armco Alberta Inc.), leaving 10,702,900 shares in this particular account. Proceeds totaled over $5.9-million, excluding commission charges.
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Jennifer Dowty