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 security that has had recent insider buying activity.
Northland Power Inc. (NPI-T)
On Sept. 13, president and chief executive officer Mike Crawley invested approximately $100,000 in shares of the company. He purchased 4,140 shares at a price per share of $24.13, initiating a position in this account (RRSP).
The company pays its shareholders a quarterly dividend of 30 cents per share, or $1.20 per share yearly, equating to a current annualized yield of 4.7 per cent.
On Sept. 18, the company completed a $346-million bought deal financing, issuing over 14-million subscription receipts at an offering price of $24.25. Proceeds from the financing will be used to help fund the purchase of a 99.2 per cent interest in Empresa de Energía de Boyacá (EBSA), a Colombian regulated utility. The strategic acquisition will expand the power producer’s global footprint. In a news release issued on Sept. 9, Mr. Crawley remarked, “The acquisition builds on our presence in Latin America and gives us an entry point into Colombia, a target market with a stable economy, growing middle class, strong rule of law and ease and transparency of doing business. We are thrilled to be acquiring this high-quality regulated Colombian utility. EBSA operates in a stable regulatory framework offering an inflation-protected perpetual cash flow profile and serves as a platform for future growth.”
Listed below are three stocks that have had recent selling activity reported by insiders.
National Bank of Canada (NA-T)
On Sept. 20, Dominique Fagnoule, executive vice-president – information technology, exercised his options, receiving 14,000 shares at a cost per share of $47.93, and sold 14,000 shares at a price per share of $65.13, eliminating his portfolio’s position. Net proceeds from the sale, excluding commission charges, totaled over $240,000.
Several weeks ago, we reported the following transactions by an insider. On Sept. 4 and Sept. 5, chief financial officer Ghislain Parent exercised his options, receiving a total of 32,400 shares at an average cost per share of $38.36, and sold 32,400 shares at an average price per share of approximately $62.74, leaving 6,000 shares in his portfolio. Net proceeds from the sales, not including trading fees, totaled nearly $790,000.
Parkland Fuel Corp. (PKI-T)
On Sept. 20, Ian White, senior vice-president – strategic marketing and innovation, sold 5,100 shares at a price per share of $43, reducing his account’s holdings to 3,973 shares. Proceeds from the sale, not including trading fees, totaled over $219,000.
Toromont Industries Ltd. (TIH-T)
Between Sept. 11 and Sept. 19, chief financial officer Paul Jewer exercised his options, receiving 20,000 shares at a cost per share of $36.65, and sold 20,000 shares at an average price per share of approximately $65, eliminating the account’s holdings. Net proceeds, excluding commission charges, exceeded $566,000.