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 four stocks that have had recent buying activity reported by issuers.
High Liner Foods Inc. (HLF-T)
Between June 23 and July 14, the company repurchased 48,900 shares at an average cost per share of roughly $13.51 under its normal course issuer bid (NCIB), returning over $660,000 to its shareholders.
Imperial Oil Ltd. (IMO-T)
Between June 1-30, the company repurchased over 15.5-million shares at an average cost per share of roughly $40.57 under its NCIB, returning over $632-million to its shareholders.
In June, the share price declined 7 per cent. The stock price remains in a downtrend, falling nearly 12 per cent month-to-date.
Management is committed to returning capital to its shareholders. On April 30, the company announced an increase in its NCIB, allowing Imperial to repurchase up to 29,363,070 common shares between June 29, 2020 and June 28, 2021.
That day, the company also announced a 23-per-cent dividend hike. Its quarterly dividend increased to 27 cents per share in the second quarter (or $1.08 per share yearly) from 22 cents per share (or 88 cents per share yearly). The company has raised its annual dividend for 26 consecutive years.
Osisko Mining Inc. (OSK-T)
Between June 1 and July 13, the company repurchased nearly 1.6-million shares at an average cost per share of roughly $3.19 under its NCIB, returning $5-million to its shareholders.
Parex Resources Inc. (PXT-T)
Between June 1-30, the company repurchased over 2-million shares at an average cost per share of roughly $21.44 under its NCIB, returning nearly $44-million to its shareholders.
Management guided to repurchasing 12.9-million shares as part of its NCIB in 2021. Last year, the company repurchased nearly 14-million shares.
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