Wednesday’s Insider Report: Director invests $2.9-million in this oversold stock

Wednesday’s Insider Report: Director invests $2.9-million in this oversold stock

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 is a stock that has had recent buying activity reported by an insider.

Tricon Residential Inc. (TCN-T)

On Nov. 24-25, president and chief executive officer Gary Berman invested over $108,000 in shares of Tricon. He acquired 10,000 shares at an average cost per share of approximately $10.85, increasing this particular account’s holdings to 928,182 shares.

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Listed below are two securities that have had recent selling activity reported by insiders.

Lithium Americas Corp. (LAC-T)

Between Nov. 19-25, Ignacio Celorrio, executive vice-president – international affairs, sold a total of 54,000 shares at an average price per share of approximately $14.18 for an account in which he has indirect ownership (Philipsburg FN Corp.). Proceeds from the sales exceeded $765,000, not including commission charges.

Toromont Industries Ltd. (TIH-T)

On Nov. 23, president and chief executive officer Scott Medhurst exercised his options, receiving 25,000 shares at a cost per share of $36.65, and sold 25,000 shares at an average price per share of approximately $88.15. Net proceeds totaled over $1.2-million, not including any associated transaction fees.

Last week, we reported that on Nov. 16, Mr. Medhurst exercised his options, receiving 28,000 shares at a cost per share of $26.52, and sold 28,000 shares at an average price per share of approximately $86.14. Net proceeds totaled over $1.6-million, not including any associated transaction fees.

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Listed below is a stock that has had both buying and selling activity reported by insiders.

Real Matters Inc. (REAL-T)

Over the past two weeks, the share price has collapsed from the mid-$20 level to the high teens. The stock is now in oversold territory with the RSI (relative strength index) at 30. Generally, an RSI reading at or below 30 reflects an oversold condition.

On Nov. 24, director Bill Holland invested over $2.9-million in shares of Real Matters. He bought 150,000 shares at an average cost per share of approximately $19.37.

Mr. Holland is the executive chairman of CI Financial Corp. (CIX-T) and the former chief executive officer of CI Financial.

Throughout the month of November, founder Jason Smith was a steady seller. However, he continues to hold a significant number of shares. Between Nov. 2 and Nov. 27, he divested a total of 60,000 shares at an average price per share of roughly $23.42, trimming this particular account’s position to 3,733,384 shares. Proceeds from the sales totaled over $1.4-million, excluding trading fees.

Mr. Smith is the executive chairman of the board of directors and is the company’s former chief executive officer.

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Published at Wed, 02 Dec 2020 10:30:20 +0000