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 are two securities that have had recent buying activity reported by insiders.
First Majestic Silver Corp. (FR-T)
Between Sept. 1-28, Todd Anthony, vice-president of corporate development, acquired a total of 17,500 shares at an average price per share of approximately $14.35, increasing this specific account’s holdings to 70,000 shares. The cost of these purchases exceeded $251,000.
Northview Apartment Real Estate Investment Trust (NVU-UN-T)
Daniel Drimmer continues to be a buyer of this REIT for an account in which he has indirect ownership (Starlight Group Property Holdings Inc.).
On Sept. 16, Mr. Drimmer invested over $10.9-million in units of Northview. He purchased 319,500 units at a price per unit of $34.17, increasing this particular account’s holdings to 1,268,632 units.
Previously, we reported that between Sept. 11-15, he invested over $13-million in units of this REIT. He purchased a total of 400,000 units at an average price per unit of approximately $33.83.
Mr. Drimmer sits on the board of trustees. He is also the president and chief executive officer of True North Commercial Real Estate Investment Trust (TNT-UN-T).
Northview pays its unitholders a monthly distribution of 13.58 cents per trust unit, or roughly $1.63 per unit yearly, equating to a current annualized yield of 4.5 per cent.
The unit price is trading just below its record closing high.
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These two stocks have had recent selling activity reported by insiders.
Algonquin Power & Utilities Corp. (AQN-T)
On Sept. 25, vice-chair Chris Jarratt divested 250,000 shares at a price per share of $18.7924, reducing this particular account’s holdings to 209,402 shares. Proceeds from the sale totaled nearly $4.7-million, excluding trading fees.
Aurinia Pharmaceuticals Inc. (AUP-T)
Between Sept. 15-21, Chin Kyu Huh, with an ownership position exceeding 10 per cent, sold a total of 258,791 shares at an average price per share of approximately US$15.07 for an account in which he has control or direction over (ILJIN SNT Co., Ltd.). Proceeds from the sales totaled over US$3.9-million, not including commission charges.
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