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 in the public market reported by a large shareholder.
New Found Gold Corp. (NFG-X)
Between Sept. 1-22, billionaire businessman Eric Sprott, with an ownership position exceeding 10 per cent, acquired a total of 140,000 shares at an average price per share of approximately $5.81 for an account in which he has indirect ownership (2176423 Ontario Ltd.), after which this specific account held 9,362,400 shares. The cost of these purchases exceeded $813,000.
The stock has a relative strength index (RSI) reading of just under 37. Generally, an RSI reading at or below 30 reflects an oversold condition.
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The following three stocks have had recent selling activity in the public market reported by insiders.
AltaGas Ltd. (ALA-T)
Between Sept. 14-18, executive vice-president and chief legal officer Brad Grant exercised his options, receiving a total of 30,000 shares at a cost per share of $14.52, and sold 30,000 shares at an average price per share of approximately $26.95 with 13,235 shares remaining in this particular account. Net proceeds totaled over $372,000, excluding any associated transaction fees.
Canadian Pacific Kansas City Ltd. (CP-T)
Between Sept. 14-19, vice-president and chief human resources officer Maeghan Albiston exercised her options, receiving a total of 8,535 shares at an average cost per share of approximately $49.19, and sold 8,535 shares at an average price per share of roughly $106.64, after which this particular account did not hold any shares. Net proceeds totaled more than $490,000, excluding any associated transaction fees.
Dollarama Inc. (DOL-T)
On Sept. 15, Huw Thomas, who sits on the board of directors, sold 2,000 shares at a price per share of $96.28, after which this particular account held 8,000 shares. Proceeds totaled over $192,000, not including trading fees.
Mr. Thomas is the former chief executive officer of SmartCentres Real Estate Investment Trust (SRT.UN-T).
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Jennifer Dowty