Tuesday’s Insider Report: CEO and Chair cash out millions as this stock trades near its record closing high

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 is a stock that has had recent buying activity reported by an insider.

Morneau Shepell Inc. (MSI-T)

On Nov. 13, director Luc Bachand acquired 4,000 shares at a price per share of $28.234. The cost of this purchase totaled approximately $113,000, not including trading fees.

The company pays its shareholders a monthly dividend of 6.5 cents per share or 78 cents per share yearly, equating to a current annualized yield of approximately 2.6 per cent.

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Listed below are three stocks that have had recent selling activity reported by insiders.

Boyd Group Services Inc. (BYD-T)

On Nov. 16, executive chair and the company’s former chief executive officer (between 2010 and 2019) Brock Bulbuck sold 32,000 shares at a price per share of $219.50 for an account in which he has indirect ownership (4612094 MB Inc.), reducing this specific account’s holdings to 10,066 shares. Proceeds from the sale exceeded $7-million, not including commission charges.

That day, president and chief executive officer Tim O’Day sold 20,000 shares at a price per share of $219.50, leaving 40,674 shares in this particular account. Proceeds totaled over $4.3-million, excluding trading fees.

Cronos Group Inc. (CRON-T)

On Nov. 17, director Jason Adler divested 100,000 shares at a price per share of US$7.334, trimming this specific account’s holdings to 5,479,092 shares. Proceeds exceeded US$733,000.

Previously, we reported that Mr. Adler sold a total of 900,000 shares at an average price per share of roughly US$7.70 between Nov. 6 and Nov. 11. Proceeds from the sales exceeded US$6.9-million, not including commission charges.

Earlier this year, the stock closed at a record high.

Russel Metals Inc. (RUS-T)

On Nov. 17-18, Brian Hedges sold a total of 16,000 shares at an average price per share of roughly $20.45. Proceeds totaled over $327,000, excluding commission charges.

Mr. Hedges sits on the board of directors and is the company’s former chief executive officer (between 2009 and 2018) and chief financial officer (between 1994 and 2009).

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