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 securities that have had recent buying activity in the public market reported by insiders.
CI Financial Corp. (CIX-T)
On Dec. 30, chairman of the board Bill Holland invested more than $668,000 in shares of CI. He purchased 25,000 shares at a price per share of $26.7245 for an account in which he has indirect ownership (WH Corp.), lifting this particular account’s holdings to 1,075,000 shares.
MDA Ltd. (MDA-T)
Director Jim Balsillie was a buyer on the dip. Between Dec. 21-23, Mr. Balsillie invested over $843,000 in shares of MDA. He acquired a total of 90,000 shares at an average cost per share of approximately $9.37 for an account in which he has indirect ownership (Amolino Holdings Inc.), after which this specific account held 7,161,429 shares.
The share price dropped 9 per cent in the days prior to his purchases. On Dec. 13, the stock price closed at $10, declining to $9.10 on Dec. 20.
According to Bloomberg, the stock is covered by analysts from Barclays, BMO Nesbitt Burns, Canaccord Genuity, Morgan Stanley, and Scotia Capital. The average 12-month target price is $18.70, implying the share price will rally 100 per cent over the next year.
Listed below are two stocks that have had recent selling activity in the public market reported by insiders.
Amerigo Resources Ltd. (ARG-T)
Between Dec. 21-31, Michael Luzich, who sits on the board of directors, sold a total of 551,100 shares at an average price per share of roughly $1.40 from an account in which he has control or direction over (Luzich Partners LLC), trimming this particular account’s position to 16,648,800 shares. Proceeds from the sales exceeded $770,000, not including commission charges.
Paramount Resources Ltd. (POU-T)
On Dec. 23, vice-president – legal Mitch Shier exercised his options, receiving 17,134 shares at a cost per share of $7.50, and sold 17,134 shares at a price per share of $23.8834 with 27,525 shares remaining in this particular account. Net proceeds exceeded $280,000, excluding any associated transaction fees.
On Dec. 21, chairman, president and chief executive officer Jim Riddell divested 20,000 shares at a price per share of $23.088 for an account in which he has control or direction over (The Watershed Foundation), leaving 62,333 shares remaining in this specific account. Proceeds from this sale totaled over $461,000, excluding trading fees.
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