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Inside the Market Wednesday’s Insider Report: Chairman invests in this stock that’s yielding 6.7% with a payout ratio of 37%

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.

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Listed below is a stock that has had recent insider buying activity.

Polaris Infrastructure Inc. (PIF-T)

On April 1, chairman Jorge Bernhard invested nearly $100,000 in shares of the company. He purchased 8,700 shares at an average price per share of approximately $11.43, lifting this portfolio’s holdings to 39,200 shares.

The share price is recovering from its slide in mid-to-late 2018, rallying 15 per cent year-to-date. In Feb., Polaris Infrastructure paid its shareholders a quarterly dividend of 15 US cents per share, representing a payout ratio of roughly 37 per cent of free cash flow generated in the fourth quarter. The current yield is approximately 6.7 per cent.

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Listed below are two stocks that have had recent selling activity reported by insiders.

Currency Exchange International Corp. (CXI-T)

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On April 1, Linda Stromme, who sits on the board of directors, sold 7,200 shares at a price per share of $24.0876, eliminating this account’s position. Proceeds from the sale totaled over $173,000.

Encana Corp. (ECA-T)

On April 1, Steven Nance, who sits on the board of directors, divested 16,000 shares at a price per share of US$7.40 with 82,146 shares remaining in this account. Proceeds from the sale exceeded US$118,000.

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Listed below are is a stock that has had mixed trading with both recent buying and selling activity reported by insiders.

Osisko Mining Inc. (OSK-T)

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On April 1, president, chief executive officer and director John Burzynski bought 70,000 shares at a price per share of $2.959, increasing this account’s holdings to 1,949,800 shares. The cost of this purchase exceeded $207,000.

On March 26, chairman of the board Sean Roosen exercised his options, receiving 550,000 shares at an average cost of approximately $1.13 per share, and sold all 550,000 shares at a price per share of $3.21, leaving 1,169,566 shares in the account. Net proceeds from the sale totaled over $1-million.

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