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 stocks that have had recent buying activity reported by insiders.
Intertape Polymer Group Inc. (ITP-T)
On June 26, Jorge Quintas, who sits on the board of directors, invested over $105,000 in shares of Intertape. He bought 9,100 shares at a cost per share of $11.5804, after which this account held 59,608 shares.
Westshore Terminals Investment Corp. (WTE-T)
Canadian billionaire Jimmy Pattison, with an ownership position exceeding 10 per cent, continues to accumulate shares in this dividend stock.
Between June 26 and July 3, Mr. Pattison made a further $3.4-million investment in this stock. He acquired a total of 207,100 shares at an average price per share of approximately $16.42 for an account in which he has indirect ownership (Great Pacific Financial Services Ltd.), raising this account’s holdings to 3,196,333 shares.
Previously, we reported that Mr. Pattison bought 1,035,656 shares at a price per share of $15.6457 for this account on June 19. The cost of this investment exceeded $16-million.
Westshore pays its shareholders a quarterly dividend of 16 cents per share, or 64 cents per share yearly, equating to a current annualized yield of 3.7 per cent.
Last year, CEOWORLD magazine named Mr. Pattison as the sixth richest person in the country.
Listed below are two stocks that have had selling activity reported by insiders.
B2Gold Corp. (BTO-T)
On June 26, John Rajala, vice-president – metallurgy, exercised his options, receiving 75,000 shares at a cost per share of $1.12, and sold 75,000 shares at a price per share of $7.34, leaving 172,169 shares in this account. Net proceeds, not including any trading charges, totaled over $466,000.
Ero Copper Corp. (ERO-T)
On June 29, Pablo Mejia-Herrera, vice-president – exploration, exercised his options, receiving 13,555 shares at a cost per share of $9.76, and sold 13,555 shares at an undisclosed price. That day, the share price traded between $18.62 and $19.49. Taking a conservative approach and assuming his shares were sold at the low of the day, $18.62, net proceeds (excluding any commission charges) totaled over $120,000.
On June 25, chief financial officer Wayne Drier exercised his options, receiving 50,000 shares at a cost per share of US$1.50, and sold 50,000 shares at an undisclosed price. That day, the share price traded between $17.82 (Canadian) and $18.55.
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