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 dividend stocks that have had buying activity in the public market reported by insiders.
Cenovus Energy Inc. (CVE-T)
On Feb. 10, chief operating officer Jon McKenzie purchased 25,000 shares at a cost per share of $19.8002, raising this particular account’s holdings to 282,868 shares. The cost of this investment exceeded $495,000, not including commission charges.
Year-to-date, this energy stock has rallied 27 per cent.
Exco Technologies Ltd. (XTC-T)
On Feb. 7 and 8, director Ed Kernaghan bought a total of 305,700 shares at an average price per share of approximately $9.15 for an account in which he has indirect ownership (Kernwood Limited), raising this specific account’s holdings to 8,145,800 shares. The cost of these purchases totaled nearly $2.8-million, not including trading fees.
Mr. Kernaghan also sits on the board of directors for several other companies including Black Diamond Group Ltd., Boralex Inc., Obsidian Energy Ltd., and Waterloo Brewing Co..
Open Text Corp. (OTEX-T)
On Feb. 8, chief human resources officer Brian Sweeney invested over US $444,000 in shares of Open Text. He acquired 10,000 shares at a cost per share of US $44.46, initiating a position in this specific account.
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Listed below is a stock that has had recent selling activity in the public market reported by an insider.
Osisko Mining Inc. (OSK-T)
On Feb. 2, Murray John exercised his options, receiving 175,000 shares at a cost per share of $3.46, and sold 175,000 shares at an average price per share of approximately $4.89, after which this particular account did not hold any shares. Net proceeds totaled over $250,000, not including any associated transaction fees.
Mr. John is the lead director of O3 Mining Inc. (OIII-X), an Osisko Group company that was formed in 2019 in a spin-out transaction from Osisko Mining Inc.
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Jennifer Dowty