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 or perhaps shares may be sold to address tax implications when options and rights are exercised. 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. In addition, I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units. Furthermore, it can be of value to note if an insider’s share or unit balance (investment in the company) is trending higher or lower.
Listed below are four stocks that have had recent selling activity in the public market reported by insiders.
Black Diamond Group Ltd. (BDI-T)
On March 11, chief financial officer Toby LaBrie sold 20,000 shares at a price per share of $16. Proceeds from the sale totaled $320,000, excluding trading fees. After this transaction, this particular account held 530,215 shares.
Endeavour Silver Corp. (EDR-T)
On March 13, chairman of the board Rex McLennan exercised his options, receiving 17,400 shares at a cost per share of $2.89, and sold 17,400 shares at a price per share of $14.4585, after which this particular account did not hold any shares. Net proceeds exceeded $201,000, excluding any associated transaction charges.
IMAX Corp. (IMAX-N)
On March 10, chief executive officer Rich Gelfond exercised his options, receiving 121,220 shares at a cost per share of US$31.40, and sold 121,220 shares at a price per share of US$40.0993, after which this specific account held 765,002 shares. Net proceeds totaled more than US$1 million, excluding any associated transaction fees.
Parex Resources Inc. (PXT-T)
On March 16, chair of the board of directors Wayne Foo sold 200,000 shares at a price per share of $25.882. Proceeds from the sale totaled more than $5 million, excluding commission charges. This specific account now holds 763,479 shares.
Mr. Foo is the former chief executive officer of Parex.
The share price has doubled in value in less than 10 months.
The company pays its shareholders a quarterly dividend of 38.5 cents per share, equating to a current annualized yield of approximately 5.8 per cent.