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Inside the Market Wednesday’s Insider Report: President cashes out $790,000 as stock approaches its record high

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 are two stocks that have had recent insider buying activity.

MTY Food Group Inc. (MTY-T)

On May 3, Murat Armutlu, who sits on the board of directors, invested approximately $110,000 in shares of the company. He purchased 2,000 shares at a price per share of $54.87, lifting his portfolio’s position to 102,600 shares.

Western Forest Products (WEF-T)

On May 6, Laura Cillis, who joined the board of directors in March 2019, acquired 54,000 shares at a cost per share of $1.80, raising her account’s holdings to 79,700 shares.

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

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Maple Leaf Foods Inc. (MFI-T)

On May 6, Glen Gratton, vice-president – Maple Leaf Agri-Farms, exercised his rights, receiving 3,755 shares, and sold 4,000 shares at a price per share of $33.5213, leaving 10,522 shares in this portfolio.

People Corp. (PEO-X)

On May 2 and May 3, president Bonnie Chwartacki sold a total of 100,000 shares at an average price per share of approximately $7.90 with 1,237,441 shares remaining in her portfolio. Gross proceeds from the sale exceeded $790,000.

The share price is less than 6 per cent away from its record closing high of $8.50 reached in Sept. 2018.

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