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 three stocks that have had recent buying activity reported by insiders.
Genesis Land Development Corp. (GDC-T)
Between Oct. 5-15, Garfield Mitchell, with an ownership position exceeding 10 per cent, bought a total of 98,700 shares at an average cost per share of roughly $1.45 for an account in which he has indirect ownership. The cost of these purchases totaled over $142,000, excluding trading fees.
Kelt Exploration Ltd. (KEL-T)
Between Oct. 14-16, president and chief executive officer David Wilson acquired a total of 176,800 shares at an average price per share of roughly $1.55 for an account in which he has indirect ownership. The cost of these purchases exceeded $274,000, not including commission charges.
Power Corporation of Canada (POW-T)
On Oct. 19, director Pierre Beaudoin invested nearly $500,000 in shares of Power Corporation. He purchased 18,600 shares at a cost per share of $26.772, increasing this particular account’s position to 63,098 shares.
The company pays its shareholders a quarterly dividend of 44.75 cents per share or $1.79 per share yearly, equating to a current annualized yield of 6.8 per cent.
Year-to-date, the share price has declined over 21 per cent.
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Listed below is a stock that has had recent selling activity reported by an insider.
Richelieu Hardware Ltd. (RCH-T)
On Oct. 16, chief financial officer Antoine Auclair exercised his options, receiving 30,000 shares at an average cost per share of approximately $13.90, and sold 30,000 shares at a price per share of $38.6095. Net proceeds totaled over $741,000, excluding any associated transaction fees.