Wednesday’s Insider Report: Trading activity reported by CEOs of these three companies

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 is a stock that has had recent buying activity reported by insiders.

Echelon Financial Holdings Inc. (EFH-T)

On Nov. 17, director Brian Reeve invested over $363,000 in shares of the company. He purchased 269,000 shares at a price per share of $1.35.

On Nov. 16 and Nov. 17, president, chief executive officer and director Serge Lavoie acquired a total of 103,275 shares at a cost per share of $1.35. The cost of these purchases exceeded $139,000.

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

Canadian Natural Resources Ltd. (CNQ-T)

Between Nov. 10-16, chief operating officer of exploration and production Darren Fichter exercised his options, receiving a total of 40,000 shares at a cost per share of $22.90, and sold 40,000 shares at an average price per share of approximately $27.33. Net proceeds totaled $177,000, not including any associated transaction charges.

On Nov. 10 senior vice-president – development operations Bill Peterson exercised his options, receiving a total of 20,000 shares at a cost per share of $22.90, and sold 20,000 shares at a price per share of $26.8835. Net proceeds totaled over $79,000, not including any associated transaction charges.

Previously, we reported the following trading activity.

On Nov. 9, chief operating officer of oil sands Scott Stauth exercised his options, receiving 25,000 shares at a cost per share of $22.90, and sold 25,000 shares at a price per share of $26.2127. Net proceeds totaled over $82,000, excluding any associated transaction fees.

Magna International Inc. (MG-T)

On Nov. 18, Swamy Kotagiri exercised his options, receiving 24,500 shares at a cost per share of US$48.045, and sold 24,500 shares at a price per share of US$61.489 with 68,244 shares remaining in this specific account. Net proceeds totaled over US$329,000, not including any associated transaction fees.

Mr. Kotagiri will assume the role as the company’s chief executive officer on Jan. 1, 2021, when the current CEO Don Walker retires.

Previously, we reported the following trade.

On Nov. 11, chief executive officer Don Walker sold 100,000 shares at a price per share of $78.83, trimming this specific account’s holdings to 1,116,605 shares. Proceeds from the sale exceeded $7.8-million, not including trading fees.

Toromont Industries Ltd. (TIH-T)

On Nov. 16-17, executive vice-president and the company’s former chief financial officer (between 2013 and Feb. 2020) Paul Jewer divested a total of 5,200 shares at an average price per share of approximately $86.82 for an account in which he has indirect ownership. Proceeds from the sales totaled over $451,000.

In May 2019, Mr. Jewer announced his plans to retire from the company within two years.

On Nov. 16, president and chief executive officer Scott Medhurst exercised his options, receiving 28,000 shares at a cost per share of $26.52, and sold 28,000 shares at an average price per share of approximately $86.14. Net proceeds totaled over $1.6-million, not including any associated transaction fees.

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