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Inside the Market Thursday’s Insider Report: Bruce Linton pockets a multi-million dollar profit from Canopy

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 securities that have had recent insider buying activity.

Boyd Group Income Fund (BYD.UN-T)

On June 28, Sally Savoia, who sits on the board of trustees, acquired 1,000 units at a price per unit of $165.50, lifting her portfolio’s holdings to 5,000 units. The cost of this investment totaled over $165,000.

Wajax Corp. (WJX-T)

In a relatively small transaction, chairman Robert Dexter invested roughly $76,000 in shares of the company on June 27. He purchased 5,000 shares at a cost per share of $15.19, increasing his account balance to 161,100 shares.

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

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Canopy Growth Corp. (WEED-T)

Between June 26 and June 28, chief executive officer Mark Zekulin exercised his options, receiving 266,666 shares at an average cost per share of approximately $7.52, and sold 362,040 shares at a price per share of $52.18, eliminating this portfolio’s position.

On June 26, the former co-chief executive officer Bruce Linton exercised his options, receiving 347,736 shares at an average cost per share of approximately $6.33, and sold 347,736 shares at an average price per share of roughly $51.67. After these transactions, this account held 241,166 shares. Net proceeds from the sales, not including commission charges, totaled over $15.7-million.

A news release issued by the company on July 3 stated that Mr. Linton stepped down from his positions as co-chief CEO and board member effective immediately.

On June 27, David Bigioni, chief commercial officer – recreational cannabis, divested 3,600 shares at a price per share of $52.10 for an account in which he has control or direction over, eliminating the account’s holdings. Gross proceeds exceeded $187,000.

Restaurant Brands International Inc. (QSR-T)

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On June 25, Vicente Tome, head of legal, U.S. and LAC for Burger King, Tim Hortons and Popeyes brands, exercised his options, receiving 6,700 shares at a cost per share of US$27.28, and sold 3,716 shares at a price per share of US$69.70 with 7,353 shares remaining in his account. Net proceeds, excluding brokerage fees, totaled over US$157,000.

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