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 three securities that have had recent buying activity reported by insiders.
5N Plus Inc. (VNP-T)
Between May 26-28, Luc Bertrand acquired a total of 280,300 shares at an average price per share of approximately $1.66, lifting this account’s position to 1,525,000 shares. The cost of this investment exceeded $465,000.
Mr. Bertrand is chairman of the board and is also the vice-chairman of National Bank of Canada.
Artis Real Estate Investment Trust (AX-UN-T)
Between May 11-22, president and chief executive officer Armin Martens invested over $659,000 in units of Artis REIT. He acquired a total of 90,000 units at an average cost per unit of roughly $7.32, increasing this account’s holdings to 424,140 units.
The REIT pays its unitholders a monthly distribution of 4.5 cents per trust unit, or 54 cents per unit annually, equating to a current annualized yield of over 7 per cent. The REIT has an adjusted funds from operations payout ratio of 58 per cent (for the three months ended March 31, 2020).
PHX Energy Services Corp. (PHX-T)
Between May 21-26, senior vice-president of finance and chief financial officer Cam Ritchie invested over $156,000 in shares of PHX Energy. He bought a total of 190,071 shares at an average cost per share of roughly 83 cents for an account in which he has indirect ownership (Cam Ritchie Trust), raising this account’s position to 235,879 shares.
Listed below are two securities that have had selling activity reported by insiders.
Boyd Group Services Inc. (BYD-T)
On May 20-21, executive chair and the company’s former chief executive officer Brock Bulbuck sold a total of 65,000 shares at an average price per share of approximately $201.83 for an account in which he has indirect ownership (4612094 MB Inc.). Proceeds from these sales, not including trading fees, totaled over $13-million. After these transactions, this account held just over 42,000 shares.
On May 22, director Robert Gross divested 5,000 shares at a price per share of US$144.712 with 5,088 shares remaining in this particular account. Proceeds from the sale, excluding commission charges, exceeded US$723,000.
TMX Group Ltd. (X-T)
On May 22, Jay Rajarathinam, president of CDCC and CDS, and chief technology and operations officer, exercised his options, receiving 5,000 shares at a cost per share of $72.23, and sold 5,000 shares at a price per share of $130.2722. Net proceeds totaled over $290,000.
Previously, we reported the following trades.
On May 15, Luc Bertrand, who sits on the board of directors and is the company’s former deputy chief executive officer, sold 5,000 shares at a price per share of $125.50. Proceeds from the sale, not including trading fees, exceeded $627,000.
On May 13, Luc Fortin, president and chief executive officer of the Montréal Exchange and global head of trading with TMX Group, exercised his options, receiving 24,702 shares at an average cost per share of approximately $74.20, and sold 24,702 shares at an average price per share of roughly $129.43, eliminating this particular account’s position. Net proceeds, not including commission charges, totaled over $1.3-million.
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