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 or perhaps shares may be sold to address tax implications when options and rights are exercised. 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. In addition, I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units. Furthermore, it can be of value to note if an insider’s share or unit balance (investment in the company) is trending higher or lower.
The following stock has had recent buying activity in the public market reported by an insider.
Cenovus Energy Inc. (CVE-T)
On Dec. 18, president and chief executive officer Jon McKenzie bought 25,000 shares at a price per share of $22, increasing the holdings in this specific account to 609,788 shares. The cost of this purchase totaled $550,000, not including trading fees.
According to Refinitiv, the stock has 18 buy recommendations and one neutral recommendation. The average target price is $31.79, implying there is 44 per cent upside potential.
**
The following three securities have had recent selling activity in the public market reported by insiders.
goeasy Ltd. (GSY-T)
On Dec.15, executive chairman David Ingram sold 2,400 shares at a price of $161.50, leaving 195,578 shares in this specific account. Proceeds from the sale exceeded $387,000, not including trading fees.
Mr. Ingram is the company’s former chief executive officer.
Sleep Country Canada Holdings Inc. (ZZZ-T)
On Dec. 15, chief sales officer Dave Howcroft divested 19,583 shares at a price per share of $25.59, reducing this specific account’s holdings to 7,636 shares. Proceeds from the sale totaled over $501,000, excluding commission charges.
Sun Life Financial Inc. (SLF-T)
On Dec. 12, president of SLC Management Steve Peacher exercised his options, receiving a total of 107,975 shares at an average cost per share of approximately $59.20 and sold 107,975 shares at an average price of roughly $70.09, after which this particular account did not hold any shares. Net proceeds exceeded $1.1-million, excluding any associated transaction fees.
On Dec. 12 president of Sun Life Canada Jacques Goulet exercised his options, receiving a total of 124,639 shares at an average cost per share of approximately $61.22 and sold 124,639 shares at an average price of roughly $70.07. Net proceeds exceeded $1.1-million, not including any associated transaction charges.
In addition, he sold 7,200 shares at a price per share of $70.27 with proceeds totaling more than $505,000, excluding commission charges.
After all of these transactions, 872 shares remained in this particular account.
Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.
Jennifer Dowty