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 a greater 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 are two securities that have had recent buying activity in the public market reported by insiders.
Allied Properties Real Estate Investment Trust (AP-UN-T)
On Sept. 26, founder, trustee, president and chief executive officer Michael Emory bought 7,200 units at a cost per unit of $27.2483 for an account in which he has indirect ownership (Prophet Corp.), lifting this particular account’s position to 132,651 units. The cost of this purchase totaled over $196,000, excluding commission charges.
Previously, we reported that on Sept. 22, Matthew Andrade, who sits on the board of trustees, invested nearly $1-million in units of this REIT. He acquired 35,000 units at a price per unit of $28.5584 for an account in which he had control or direction over (Werklund Capital Corp.), increasing this specific account’s holdings to 135,000 units.
Bank of Nova Scotia (BNS-T)
On Sept. 28, chairman of the board Aaron Regent invested nearly $2-million in shares of Scotiabank. He purchased 29,900 shares at a price per share of $66.8076, after which this specific account held 92,422 shares.
Mr. Regent is the former president and chief executive officer of Barrick Gold Corp. (ABX-T).
On Sept. 28, director Calin Rovinescu bought 3,000 shares at an average price per share of approximately $67.045 for an account in which he has indirect ownership (Scarsdale Capital), increasing this specific account’s holdings to 17,929 shares. The cost of this purchase exceeded $201,000.
Mr. Rovinescu is the former president and chief executive officer of Air Canada (AC-T).
Listed below are two stocks that have had recent selling activity in the public market reported by insiders.
Computer Modelling Group Ltd. (CMG-T)
Between Sept. 21 - 28, vice-chairman of the board Ken Dedeluk divested a total of 45,000 shares at an average price per share of approximately $5.22, reducing this particular account’s position to 574,900 shares.
Mr. Dedeluk is the company’s former president and chief executive officer.
Ero Copper Corp. (ERO-T)
On Sept. 27 and Oct. 3, executive chairman Noel Dunn sold 25,000 on each of these days at undisclosed prices. To be conservative, assuming the trades were completed at the low of each day ($9.49 on Sept. 27 and $11.19 on Oct. 3), proceeds from the sales would total $517,000, excluding commission charges. After these transactions, this particular account held 2,140,744 shares.
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