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 stocks that have had recent buying activity in the public market reported by insiders.
On Dec. 4, two company leaders each invested $900,000 in shares of the company.
Chairman and chief executive officer Peter Marrone acquired 250,000 shares at a cost per share of $3.60, lifting the holdings in this particular account to 14,531,805 shares.
Co-founder and vice-chairman Justin Dibb also bought 250,000 shares at a cost per share of $3.60, increasing the position in this specific account to 27,505,431 shares.
On Sept. 11, the stock began trading on the Toronto Stock Exchange.
On Nov. 30, François Olivier, who sits on the board of directors, invested over $200,000 in shares of CAE. He purchased 7,500 shares at an average price per share of approximately $26.82, initiating a position in this particular account.
Mr. Olivier is the former president and chief executive officer of Transcontinental Inc. (TCL-A-T).
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The following two securities have had recent selling activity in the public market reported by insiders.
On Nov. 28, corporate secretary Karen Aram exercised her options, receiving 18,435 shares at an average cost per share of approximately $13.03, and sold 18,435 shares at an average price per share of roughly $17.32, after which this specific account did not hold any shares. Net proceeds exceeded $79,000, excluding any associated transaction charges.
Between Nov. 27–Dec. 1, chief operating officer Pierre Beaudoin sold a total of 43,000 shares at an average price per share of approximately $8.25 for three accounts (Emile Beaudoin TFSA, Nathalie Beaudoin TFSA and Pierre Beaudoin TFSA), eliminating the holdings in each of these accounts. Proceeds from the sales exceeded $354,000, not including trading fees.
Between Nov. 21-23, president Chris Ritchie sold a total of 80,000 shares at an average price per share of roughly $7.50, after which this particular account held 710,900 shares. Proceeds from the sales totaled over $600,000, excluding trading fees.
Between Nov. 14-16 chief executive officer and director Eric Fier exercised his options, receiving 250,000 shares at a cost per share of $3.24 and sold 250,000 shares at an average price of approximately $7.38, leaving 1,010,075 shares in this particular account. Net proceeds exceeded $1-million, not including any associated transaction charges.
Previously, we reported chief financial officer Anne Yong exercised her options on Nov. 14, receiving 125,000 shares at a cost per share of $3.24 and sold 125,000 shares at an average price of approximately $7.15 with 170,596 shares remaining in this particular account. Net proceeds exceeded $488,000, excluding any associated transaction fees.
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TORONTO – Canada’s main stock index was higher in late-morning trading, helped by strength in energy stocks, while U.S. stock markets also moved up.
The S&P/TSX composite index was up 34.91 points at 23,736.98.
In New York, the Dow Jones industrial average was up 178.05 points at 41,800.13. The S&P 500 index was up 28.38 points at 5,661.47, while the Nasdaq composite was up 133.17 points at 17,725.30.
The Canadian dollar traded for 73.56 cents US compared with 73.57 cents US on Monday.
The November crude oil contract was up 68 cents at US$69.70 per barrel and the October natural gas contract was up three cents at US$2.40 per mmBTU.
The December gold contract was down US$7.80 at US$2,601.10 an ounce and the December copper contract was up a penny at US$4.28 a pound.
This report by The Canadian Press was first published Sept. 17, 2024.
TORONTO – Strength in the base metal and technology sectors helped Canada’s main stock index gain almost 100 points on Friday, while U.S. stock markets climbed to their best week of the year.
“It’s been almost a complete opposite or retracement of what we saw last week,” said Philip Petursson, chief investment strategist at IG Wealth Management.
In New York, the Dow Jones industrial average was up 297.01 points at 41,393.78. The S&P 500 index was up 30.26 points at 5,626.02, while the Nasdaq composite was up 114.30 points at 17,683.98.
The S&P/TSX composite index closed up 93.51 points at 23,568.65.
While last week saw a “healthy” pullback on weaker economic data, this week investors appeared to be buying the dip and hoping the central bank “comes to the rescue,” said Petursson.
Next week, the U.S. Federal Reserve is widely expected to cut its key interest rate for the first time in several years after it significantly hiked it to fight inflation.
But the magnitude of that first cut has been the subject of debate, and the market appears split on whether the cut will be a quarter of a percentage point or a larger half-point reduction.
Petursson thinks it’s clear the smaller cut is coming. Economic data recently hasn’t been great, but it hasn’t been that bad either, he said — and inflation may have come down significantly, but it’s not defeated just yet.
“I think they’re going to be very steady,” he said, with one small cut at each of their three decisions scheduled for the rest of 2024, and more into 2025.
“I don’t think there’s a sense of urgency on the part of the Fed that they have to do something immediately.
A larger cut could also send the wrong message to the markets, added Petursson: that the Fed made a mistake in waiting this long to cut, or that it’s seeing concerning signs in the economy.
It would also be “counter to what they’ve signaled,” he said.
More important than the cut — other than the new tone it sets — will be what Fed chair Jerome Powell has to say, according to Petursson.
“That’s going to be more important than the size of the cut itself,” he said.
In Canada, where the central bank has already cut three times, Petursson expects two more before the year is through.
“Here, the labour situation is worse than what we see in the United States,” he said.
The Canadian dollar traded for 73.61 cents US compared with 73.58 cents US on Thursday.
The October crude oil contract was down 32 cents at US$68.65 per barrel and the October natural gas contract was down five cents at US$2.31 per mmBTU.
The December gold contract was up US$30.10 at US$2,610.70 an ounce and the December copper contract was up four cents US$4.24 a pound.
— With files from The Associated Press
This report by The Canadian Press was first published Sept. 13, 2024.
TORONTO – Canada’s main stock index was down more than 200 points in late-morning trading, weighed down by losses in the technology, base metal and energy sectors, while U.S. stock markets also fell.
The S&P/TSX composite index was down 239.24 points at 22,749.04.
In New York, the Dow Jones industrial average was down 312.36 points at 40,443.39. The S&P 500 index was down 80.94 points at 5,422.47, while the Nasdaq composite was down 380.17 points at 16,747.49.
The Canadian dollar traded for 73.80 cents US compared with 74.00 cents US on Thursday.
The October crude oil contract was down US$1.07 at US$68.08 per barrel and the October natural gas contract was up less than a penny at US$2.26 per mmBTU.
The December gold contract was down US$2.10 at US$2,541.00 an ounce and the December copper contract was down four cents at US$4.10 a pound.
This report by The Canadian Press was first published Sept. 6, 2024.
