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 two securities that have had recent buying activity in the public market reported by insiders.
Canadian Western Bank (CWB-T)
In a relatively small transaction, chief financial officer Matt Rudd purchased 860 shares at a cost per share of $30.3698 for his RRSP on June 3, after which this particular account held 7,300 shares. The cost of this investment totaled over $26,000.
Primaris REIT (PMZ-UN-T)
On June 2, chief financial officer Rags Davloor invested over $140,000 in units of this REIT. He acquired 10,000 units at a price per unit of $14.0167, increasing this specific account’s holdings to 125,000 units.
Last month, we reported that Mr. Davloor bought a total of 20,000 units at an average price per unit of roughly $13.39 on May 9 and 10. The cost of these purchases totaled over $267,000.
The REIT pays its unitholders a monthly distribution of 6.67 cents per unit, or 80 cents yearly, equating to a current annualized yield of approximately 6.3 per cent.
Units of this REIT are approaching oversold territory. The relative strength index is at 32. Generally, an RSI reading at or below 30 reflects an oversold condition.
With the unit price now trading below $13, units of this REIT are down over 20 per cent from its 2022 high of over $16 reached in March.
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Listed below are two stocks that have had recent selling activity in the public market reported by insiders.
Gibson Energy Inc. (GEI-T)
On June 2, senior vice-president – chief administrative officer Sean Wilson sold 50,000 shares at a price per share of $27.40, reducing this particular account’s position to 95,642 shares. Proceeds from the sale totaled $1.37-million, not including commission charges.
TC Energy Corp. (TRP-T)
On June 2, vice-president and controller Glenn Menuz exercised his options, receiving 16,241 shares at a cost per share of $56.90, and sold 16,241 shares at a price per share of $74, after which this particular account did not hold any shares. Net proceeds totaled over $277,000, not including any associated transaction fees.
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