Mathieu Dupuis
Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships.
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 detailing two securities with recent insider buying activity.
Artis Real Estate Investment Trust (AX.UN-T)
Ron Joyce, with an ownership position of over 10 per cent, continues to accumulate shares in the market.
On Oct. 25, he purchased 200,000 units at an average price per unit of $14.01 for an account in which he has indirect ownership (Fox Harbr Development Limited.), increasing the portfolio's holdings to 300,200 units.
On Oct. 24, he bought 50,000 units at an average price per unit of $13.9872 for a different account in which he also has indirect ownership (Jetport Inc.), lifting the portfolio's position to 14,991,900 units.
Cathedral Energy Services Ltd. (CET-T)
On Oct. 19, Dan Wilks, with an ownership position above 10 per cent, purchased 625,100 shares at an average price per share of $1.35 for an account that he has control or direction over. The previous day, he bought 57,100 shares at an average cost per share of $1.3458 for this account. After these two trades, the portfolio held 5,430,412 shares.
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The following companies have had recent insider selling activity.
EXFO Inc. (EXF-T)
On Oct. 16, five management executives were sellers in the market.
Chief financial officer Pierre Plamondon exercised his rights, receiving 20,593 shares of which he sold 11,772 shares at an average price per share around the $5 level. His remaining portfolio balance stood at 129,898 shares.
Dana Yearian, vice-president, sales- Americas, exercised his rights and sold the corresponding number of shares (18,773) at an average price per share of $4.06 (U.S.), leaving 34,181 shares in his account.
Claudio Mazzuca, vice-president – systems and services, exercised his rights and sold the corresponding number of shares (10,747) at an average price per share around the $5 level, leaving 629 shares in his portfolio.
Luc Gagnon, vice-president – manufacturing and global services, exercised his rights and sold the corresponding number of shares (14,491) at an average price per share around the $5 level, with a remaining portfolio balance of 25,983 shares.
Stephen Bull, vice-president – research and development, exercised his rights, receiving 19,484 shares, and subsequently sold 10,786 shares at an average price per share around the $5 level, with 48,549 shares remaining in his account.
Osisko Mining Inc. (OSK-T)
Murray John, who sits on the board of directors, has been a seller in the market.
On Oct. 20, he sold 64,900 shares at an average price per share of $4.05. On Oct. 17, he divested 45,100 shares at an average price per share of $4.26. Lastly, on Oct. 16, he sold 120,000 shares at an average price per share of $4.42. After these trades, his remaining portfolio balance was 150,000 shares.
Earlier this month, we reported that the chairman of the board of directors Sean Roosen sold 80,000 shares at an average price per share of $4.41 on Oct. 16, trimming his large portfolio's position to 1,048,666 shares. In addition, on Oct. 16, Don Njegovan, vice-president – new business development, sold 25,000 shares at an average price per share of $4.377, leaving 58,112 shares in his portfolio.