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 are two securities that have had recent buying activity in the public market reported by insiders.
5N Plus Inc. (VNP-T)
On March 1, director Jean-Marie Bourassa invested over $271,000 in shares of the company. He acquired 60,100 shares at a price per share of $4.5185, after which this particular account held 1,604,400 shares.
Savaria Corp. (SIS-T)
On March 8, executive chairman Marcel Bourassa bought 65,000 shares at a cost per share of $16.31 for an account in which he has indirect ownership (9302-0071), increasing the holdings in this particular account to 277,931 shares. The cost of this purchase exceeded $1 million.
Mr. Bourassa is the company’s former president and chief executive officer.
According to Refinitiv Eikon, the stock has a unanimous buy recommendation from seven analysts with an average target price of $21.21, suggesting there is 29 per cent upside potential in the share price over the next year.
**
The following two stocks have had recent selling activity in the public market reported by insiders.
Canadian Natural Resources Ltd. (CNQ-T)
On March 5, vice chairman Tim McKay exercised his options, receiving a total of 97,500 shares at an average cost per share of approximately $26.34, and sold 97,500 shares at an average price per share of roughly $97.66, after which this specific account held 1,202,231 shares. Net proceeds totaled over $6.9 million, excluding any associated transaction fees.
Mr. McKay is the company’s former president.
Finning International Inc. (FTT-T)
On March 4, president of Finning Canada David Primrose sold 10,000 shares at a price per share of $36, after which this specific account held 27,169 shares. Proceeds from the sale totaled $360,000, excluding trading fees.
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.
Jennifer Dowty