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.
Listed below is a security that has had recent buying activity reported by an insider.
H&R Real Estate Investment Trust (HR-UN-T)
On Aug. 14, trustee and executive vice-president – asset management and strategic initiatives Alex Avery purchased 50,000 units at a price per unit of $10.298 for an account in which he has control or direction over. The cost of this investment exceeded $514,000.
Effective May 2020, the monthly distribution was reduced by 50 per cent to 5.75 cents per unit from 11.5 cents per unit. Management remarked on this decision in its first-quarter earnings release stating, “This new distribution rate provides additional financial flexibility to absorb any income interruption related to the pandemic in the near term, and allows for significant capital reinvestment into our properties to address tenant turnover without increasing the REIT’s financial leverage. The new distribution rate is also expected to satisfy the REIT’s requirement to distribute all of its taxable income. The Board and management have not taken this decision lightly, and are hopeful conditions will improve to result in this decision appearing to have been overly cautious.”
Year-to-date, the unit price has been roughly cut in half.
Listed below are three stocks that have had selling activity reported by insiders.
Equitable Group Inc. (EQB-T)
On Aug. 14, president and chief executive officer Andrew Moor divested 2,500 shares at a price per share of $85.30, leaving 39,752 shares in this particular account. Proceeds from the sale exceeded $213,000, excluding trading fees.
Previously, we reported that on July 31, Mr. Moor sold 1,000 shares at a price per share of $82.05. Proceeds from the sale, not including commission charges, totaled over $82,000.
Between Aug. 7 and Aug. 11, chief financial officer Tim Wilson exercised his options, receiving a total of 7,409 shares at an average cost per share of approximately $52.90, and sold 7,409 shares at an average price per share of roughly $83.03. Net proceeds totaled over $223,000, excluding any associated transaction charges.
Metro Inc. (MRU-T)
On Aug. 17, chief financial officer and treasurer François Thibault exercised his options, receiving 27,000 shares at a cost per share of $21.90, and sold 27,000 shares at a price per share of $59.9557. Net proceeds exceeded $1-million, excluding any associated transaction charges.
Wesdome Gold Mines Ltd. (WDO-T)
On Aug. 17, chief governance officer and corporate secretary Heather Laxton exercised her options, receiving 99,000 shares at a cost per share of $2.46, and sold 99,000 shares at a price per share of $14.20. Net proceeds totaled over $1.1-million, not including any associated transaction fees.
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