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 stocks that have had recent buying activity reported by insiders.
CGI Inc. (GIB-A-T)
On Aug. 6, Alison Reed, who has been on the board of directors since 2018, invested over $295,000 in shares of CGI. She purchased 3,000 shares at a cost per share of $98.53, initiating a portfolio position.
CI Financial Corp. (CIX-T)
On Aug. 9, two senior management executives and the chairman were buyers in the public market on share price weakness. The share price plunged nearly 9 per cent after the company released its second-quarter financial results. The stock price closed at $18.32 on Aug. 8, down from its prior day closing price of $20.08.
Chairman Bill Holland invested over $2.8-million in shares of the company. He bought 155,200 shares at a price per share of $18.0976, lifting his account balance to 392,327 shares.
Chief executive officer and director Peter Anderson purchased a total of 20,000 shares at an average price per share of $18.135 for two accounts. The cost of these investments, excluding commission charges, exceeded $362,000.
In April, the company announced that Mr. Anderson his plan to retire. In September, Kurt MacAlpine will become the company’s chief executive officer.
Roy Ratnavel, executive vice-president – sales and marketing and national sales manager at CI Investments, acquired 10,000 shares at a cost per share of $18.153, increasing his account’s holdings to 156,005 shares.
On Aug. 13, director Tom Muir purchased 20,000 shares at a price per share of $18.56 for an account in which he has indirect ownership (Muir Investments Limited), taking this account’s holdings up to 40,392 shares. The cost of this investment, not including brokerage fees, totaled over $371,000.
The relative strength index (RSI) is approximately 20. Generally, an RSI reading at or below 30 indicates an oversold condition.
Morguard North American Residential REIT (MRG-UN-T)
On Aug. 6, Mel Leiderman, who sits on the board of trustees, acquired 5,000 units at a cost per unit of $20.30 for an account in which he has indirect ownership (Mel Leiderman Professional Corporation), initiating a position in this account. The cost of this investment exceeded $101,000.
Listed below is a security that has had recent selling activity reported by an insider.
iA Financial Corporation Inc. (IAG-T)
Between Aug. 7 and Aug. 9, Michael Stickney, executive vice-president – U.S. development, exercised his options, receiving 6,000 shares at a cost per share of $32.08, and sold 6,000 shares at an average price per share of approximately $54.46, leaving 19,500 shares in his account. Net proceeds from these transactions, excluding commission charges, totaled over $134,000.