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 three securities that have had recent buying activity reported by insiders.
Brookfield Business Partners L.P. (BBU-UN-T)
On Feb. 28, Murilo Ferreira acquired 2,600 units at a price per unit of US$38.50, raising this account’s holdings to 5,410 units. The cost of this investment exceeded US$100,000.
Mr. Ferreira sits on the board of directors of Brookfield Asset Management Inc.
Canadian Imperial Bank of Commerce (CM-T)
On March 2, director Katharine Stevenson invested over $459,000 in shares of this bank stock. She purchased 4,500 shares at a price per share of $102.13 for an account in which she has control or direction over (1170628 Ontario Limited), initiating a position in this particular account.
On Feb. 22, the board of directors approved an increase in the quarterly dividend to $1.46 per share from $1.44 for the quarter ending April 30, 2020. Based on this dividend hike, the yield is approximately 6.7 per cent.
Crombie Real Estate Investment Trust (CRR-UN-T)
On Feb. 28, chief financial officer and secretary Clinton Keay bought 10,000 units at a price per unit of $14.6579, initiating a position in this particular account. The cost of this investment topped $146,000.
On Feb. 27, director Jason Shannon acquired 20,000 units at a price per unit of $14.99 for an account in which he has indirect ownership (JPS Holdings Limited), lifting the account balance to 50,000 units. The cost of this investment totaled approximately $300,000.
The REIT pays its unitholders a quarterly distribution of 22 cents per unit, equating to a current yield of over 6 per cent.
Listed below is a stock that has had selling activity reported by the CEO.
Fortis Inc. (FTS-T)
Last week, the president and chief executive officer Barry Perry was a seller in the public market.
On March 6, Mr. Perry exercised his options, receiving 75,702 shares at a cost per share of $41.27, and sold 75,702 shares at a price per share of $58.4982. Net proceeds, not including trading fees, totaled over $1.3-million.
On March 5, Mr. Perry exercised his options, receiving a total of 257,645 shares at an average cost per share of roughly $41.09, and sold 257,645 shares at an average price per share of approximately $58.64. Net proceeds, excluding commission charges, exceeded $4.5-million.