A depot used to store pipes for Transcanada Corp's Keystone XL pipeline in Gascoyne, North Dakota November 14, 2014.Reuters
Featured below are companies that have experienced recent insider buying and selling 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 companies with buying activity.
Exchange Income Corp. (EIF-T)
Gary Filmon, chairman of the board, recently completed two purchases for two separate accounts. For one account, he bought 2,700 shares at an average cost of $32.0252 per share on June 15. For a different account, he acquired 1,000 shares at an average price of $32.75 per share on June 12.
Last week, we reported that chief executive officer Michael Pyle had purchased a total of 1,843 shares for two accounts at a cost of over $33 per share since the beginning of June. In addition, executive vice-chairman Duncan Jessiman purchased 1,625 shares at an average price of $33.49 per share on May 30, increasing his portfolio's position to 60,143 shares.
Inter Pipeline Ltd. (IPL-T)
On June 15, Cory Neufelt, vice-president of oil sands pipeline development, purchased a total of 4,300 shares for two separate accounts at an average price per share around the $25.60 level.
Melcor Real Estate Investment Trust (MR.UN-T)
On June 12, Naomi Stefura, chief financial officer at Melcor Developments Ltd., bought 5,000 units at an average price of $8.968 per unit, initiating a portfolio position.
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Recent insider selling activity has occurred in the following companies.
Ballard Power Systems Inc. (BLDP-T)
On June 15, Paul Osenar, president of subsidiary Protonex Technology Corp., sold 50,000 shares priced at approximately $3 (U.S.) per share. Last week, we reported that Mr. Osenar also sold 50,000 shares. After these trades, his portfolio's position stood at 244,702 shares.
Canadian Natural Resources Ltd. (CNQ-T)
On June 12, Allan Frankiw, the senior vice-president of production, sold 1,000 shares at an average price of $40.16 per share, trimming the portfolio's position to 15,892 shares.
On June 1, Ron Laing, the senior vice-president of corporate development and land, divested 3,500 shares at an average price of $39.28 per share, reducing the portfolio's holdings to 11,705 shares.
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The following companies have experienced mixed trading with a combination of recent insider buying and selling activities.
TransCanada Corp. (TRP-T)
Louis Bergeron, Energy East's vice-president for Québec and New Brunswick, has been an active buyer. He bought 1,000 shares at an average price per share of $62.24 on June 15. The previous day, he purchased 3,188 shares, and on June 7, he acquired 1,100 shares. After these purchases, his portfolio's holdings stood at 7,260 shares.
Taking an opposing trading position, on June 12, Mark Yeomans, vice-president of pipeline integrity, exercised his options and sold the corresponding number of shares (4,233), eliminating this portfolio's position.
WestJet Airlines Ltd. (WJA-T)
Ron Brenneman, who sits on the board of directors, continues to add to his holdings in 5,000 share increments. On June 14, he purchased 5,000 shares at an average price per share of $22.50.
Last week, we reported that Mr. Brenneman acquired 5,000 shares at an average cost per share of $22.40 on June 6. He bought 5,000 shares on May 18 and also purchased 5,000 shares on May 17. After these transactions, his portfolio's position stood at 70,000 shares.
Conversely, Bob Cummings, the executive vice-president –commercial, was a recent seller, divesting 1,200 shares at an average price of $23.13 per share on June 2, trimming his portfolio's holdings to 56,226 shares.
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