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 a greater 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 three securities that have had recent buying activity in the public market reported by insiders.
Cardinal Energy Ltd. (CJ-T)
Between Dec. 16-19, director John Brussa invested over $139,000 in shares of Cardinal. He bought a total of 20,000 shares at an average cost per share of approximately $6.975 for his RRSP, lifting this particular account’s holdings to 319,000 shares.
Earlier in the month, on Dec. 6 and 7, Mr. Brussa acquired a total of 20,000 shares at an average price per share of roughly $7.37 for a different account, after which it held 3,616,354 shares. The cost of these purchases exceeded $147,000.
Cascades Inc. (CAS-T)
Between Dec. 16-20, co-founder and executive chairman of the board of directors Alain Lemaire invested over $390,000 in shares of Cascades. He bought a total of 50,000 shares at an average price per share of approximately $7.82 for an account in which he has indirect ownership, raising this specific account’s position to 5,147,680 shares.
Between 2004 and 2014, Mr. Lemaire was the company’s president and chief executive officer.
CI Financial Corp. (CIX-T)
On Dec. 16, chair of the board of directors Bill Holland bought 77,600 shares at a price per share of $13.4449 for an account in which he has indirect ownership (WH Corp.), increasing this particular account’s position to 1,831,300 shares. The cost of this purchase totaled more than $1-million.
Mr. Holland is CI’s former chief executive officer.
The company pays its shareholders a quarterly dividend of 18 cents per share or 72 cents per share yearly, equating to a current annualized yield of approximately 5.5 per cent.
Listed below is a stock that has had recent selling activity in the public market reported by an insider.
iA Financial Corporation Inc. (IAG-T)
Between Dec. 12 and 21, president and chief executive officer Denis Ricard exercised his options, receiving a total of 13,900 shares at a cost per share of $43.38, and sold 13,900 shares at an average price per share of roughly $78.64 with 44,000 shares remaining in this particular account. Net proceeds exceeded $490,000, not including any associated transaction 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.