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.
Let's begin the report featuring two bank stocks that have had recent insider buying activity.
Bank of Nova Scotia (BNS-T)
On Aug. 30, Tiff Macklem, who sits on the board of directors and is the dean at the University of Toronto’s Rotman School of Management, made a small purchase. He acquired 190 shares at a cost per share of $76.0668, lifting his portfolio’s position to 1,300 shares.
Canadian Imperial Bank of Commerce (CM-T)
On Aug. 27, two board members made small purchases in the public market.
Linda Hasenfratz accumulated 132 shares at a price per share of $122.80, boosting her account’s holdings to 10,499 shares.
Nicholas Le Pan acquired 180 shares at a cost per share of $122.80, lifting his portfolio’s position to 2,943 shares.
The following stock has had recent insider selling activity.
Bank of Montreal (BMO-T)
On Aug. 31, Tom Flynn, chief financial Ooficer of BMO Financial Group, exercised his options, receiving 40,284 shares, and subsequently sold over $4-million worth of stock. That day, he divested 39,784 shares at a price per share of $106.82, leaving 5,455 shares in his portfolio.
Richelieu Hardware Ltd. (RCH-T)
On Aug. 24, Guy Grenier, vice-president, sales and marketing – industrial, exercised his options and sold the corresponding number of shares (8,000) at a price per share of $30.40, which reduced his account balance to 42,500 shares.
The following stock has had mixed trading with both buying and selling activity recently reported by insiders.
Russel Metals Inc. (RUS-T)
Between Aug. 24 and Aug. 30, Maureen Kelly, vice-president – information systems, sold a total of 5,550 shares at an average price per share of approximately $29.03, trimming her account balance to 43,329 shares.
On Aug. 16, director William O’Reilly bought 1,000 shares at a price per share of $28.757, increasing his account balance to 5,000 shares.