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 three stocks that have had recent buying activity in the public market reported by insiders.
Cardinal Energy Ltd. (CJ-T)
On July 6, John Brussa, who sits on the board of directors, invested $264,000 in shares of Cardinal. He purchased a total of 40,000 shares at an average cost per share of $6.60 for two accounts, after which one account held 3,596,354 shares and a different account (RRSP) held 299,000 shares.
The company pays its shareholders a monthly dividend of 5 cents per share or 60 cents per share yearly, equating to a current annualized yield of 8.3 per cent.
Year-to-date, the share price is up approximately 70 per cent.
i-80 Gold Corp. (IAU-T)
On June 30, chief executive officer and director Ewan Downie acquired 100,000 shares at a price per share of $2,345, raising this particular account’s position to 5,469,427 shares. The cost of this purchase exceeded $234,000.
Westshore Terminals Investment Corp. (WTE-T)
On July 8, billionaire businessman Jim Pattison, with an ownership position exceeding 10 per cent, invested over $5.8-million in shares of Westshore. He bought 183,300 shares at a price per share of $31,844 for an account in which he has indirect ownership (Great Pacific Financial Services Ltd.), increasing this specific account’s holdings to 5,054,741 shares.
Last week, we reported that between June 24-30, Mr. Pattison invested over $9.9-million in shares of Westshore. He acquired a total of 311,900 shares at an average price per share of approximately $31.86 for this account.
Listed below is a stock that has had recent selling activity in the public market reported by an insider.
Canadian Natural Resources Limited (CNQ-T)
Between July 4-6, director Steve Laut sold a total of 18,225 shares at an average price per share of roughly $66.98, leaving 1,746,548 shares in this particular account. Proceeds from the sales exceeded $1.2-million, excluding trading fees.
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