Wednesday’s Insider Report: CEO cashes out $20-million as this stock rises to a record high

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 two securities that have had recent buying activity reported by insiders.

Aimia Inc. (AIM-T)

Between May 15 and May 22, chairman Charles Frischer invested over U.S. $400,000 in shares of Aimia. He acquired a total of 201,200 shares at an average price per share of roughly U.S. $2, increasing this account’s position to 5,151,200 shares.

On May 20, director Karen Basian purchased 70,750 shares at an average cost per share of approximately Cdn. $2.84, raising this account’s holdings to 131,965 shares. The cost of this purchase totaled over Cdn. $200,000.

On May 18 and May 19, director Michael Lehmann invested U.S. $152,000 in shares of the company. He bought 75,000 shares at an average price per share of roughly U.S. $2.03 in his personal trading account, lifting this particular account’s holdings to 412,900 shares.

Badger Daylighting Ltd. (BAD-T)

On May 14, director Glen Roane acquired 10,000 shares at a price per share of $26, increasing this account’s holdings to 58,400 shares. The cost of this purchase totaled $260,000.

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

Boralex Inc. (BLX-T)

On May 12 and May 13, director Edward Kernaghan sold a total of 14,800 shares at an average price per share of roughly $30.05 for an account in which he has indirect ownership (Kernwood Limited), trimming this account’s holdings to 1,485,200 shares. Proceeds from the sales, not including trading fees, exceeded $444,000.

Franco-Nevada Corp. (FNV-T)

On May 13, chief legal officer and corporate secretary Lloyd Hong exercised his options, receiving 45,914 shares at a cost per share of $75.45, and sold 45,914 shares at a price per share of $200.2652, after which this particular account held 4,551 shares. Net proceeds, not including trading fees, exceeded $5.7-million.

On May 11, chief executive officer and director David Harquail sold 100,000 shares at a price per share of $198.2065. Proceeds from the sale, excluding commission charges, totaled over $19.9-million.

The sales were made just before the stock hit a record high on May 15.