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 two stocks that have had buying activity in the public market reported by insiders.
Badger Infrastructure Solutions Ltd. (BDGI-T)
Between March 23-28, chief operating officer and senior vice-president of operations Rob Blackadar acquired 11,500 shares at an average cost per share of approximately US$23.36, lifting this particular account’s holdings to 85,068 shares. The cost of these purchases totaled over US$268,000.
Exco Technologies Ltd. (XTC-T)
Between March 18-31, director Edward Kernaghan purchased a total of 267,800 shares at an average cost per share of roughly $9.20 for an account in which he has indirect ownership (Kernwood Limited), increasing this specific account’s holdings to 9,086,500 shares. The cost of this investment exceeded $2.4-million.
On Feb. 1, the company announced a 5-per-cent dividend increase, lifting its quarterly dividend to 10.5 cents per share or 42 cents per share yearly. This equates to a current annualized yield of 4.7 per cent. The company has raised its dividend 14 times in the past 13 consecutive years.
In a news release, president and chief executive officer Darren Kirk stated, “I am pleased to announce this dividend increase, which reflects our confidence in Exco’s ability to grow its earnings per share and continue generating significant free cash flow in the years ahead.”
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Listed below are two securities that have had recent selling activity in the public market reported by insiders.
Boralex Inc. (BLX-T)
On March 30 and 31, director Edward Kernaghan divested a total of 121,000 shares at an average price per share of approximately $40.52 for an account in which he has indirect ownership (Kernwood Limited), leaving 654,000 shares in this particular account. Proceeds from the sales totaled over $4.9-million, not including commission charges.
Obsidian Energy Ltd. (OBE-T)
On March 25, Gary Sykes, senior vice-president – commercial, sold 15,000 shares at a price per share of $10.65 with 15,565 shares remaining in this particular account. Proceeds from the sale totaled just under $160,000, not including trading fees.
Are you interested in being interviewed about your first stock purchase? Globe Investor is looking for Canadians to discuss their experience as part of this new, ongoing feature. If you’d like to be interviewed, please write to: jcowan@globeandmail.com with “My First Stock” in the subject line and include a short description of your first stock purchase.
Jennifer Dowty