The past week in Canadian insider trades was a busy one. We saw increased insider buying in the energy and computer industries. There was an increase in insider selling in the banking and gold industries of Canada.
Note: Some of these companies are sold in both the Toronto Stock Exchange as well as the NYSE. The following ratios and transactions correspond to the TSX.
Notable Canadian Insider Buys:
1. Atlantic Power Corporation (TSX:ATP)
With its shares dropping to a five year low, Atlantic Power has reported two insider buys.
· On March 18, Director Irving Gerstein bought 9,400 shares at $5.28 per share. The transaction cost him $49,623. Gerstein now holds at least 19,800 shares of the company.
· On March 19, Director John McNeil added 12,000 shares to his stake for $5.25 per share. The transaction amount for this buy was $63,000.
Atlantic Power was incorporated in British Columbia and is headquartered in Boston, Mass. Atlantic Power can be found on both the Toronto Stock Exchange and the New York Stock Exchange (AT).
Several class action suits are being filed against Atlantic Power for issuing false and misleading statements to investors by failing to disclose material adverse facts about the company’s business, operations, and prospects.
|Market Cap: 635.7 M||P/E: 42||Shiller P/E: 2.7|
|P/B: 0.65||P/S: 1.37||EV/EBITDA: 16.69|
|52 Week Low: 5.16||52 Week High: 15.12||Average Volume: 550,100|
With its shares up 5.17%, TSX:ATP trades at $5.32.
There are currently no gurus followed by GuruFocus that hold shares in this company.
For more information on Atlantic Power Corporation’s insider trades, click here.
2. NexJ Systems Inc. (TSX:NXJ)
Reaching a 52-Week Low, NexJ Systems reported two insider buys this past week.
- CEO and Founder, Robert Courteau, made five separate insider buys on March 14. Tatham added a total of 16,800 shares at an average cost of $3.71 per share. His total transaction amount for Thursday was $62,235.
- On March 19, Director Tim Stanley added 5,000 shares to his stake at $3.73 per share. This transaction cost him $18,650.
As shown above, this is the first set of insider transactions for NexJ Systems.
NexJ Systems is a provider of cloud-based software that is used to deliver people-centered solutions for the financial services, insurance and healthcare industries. NexJ maintains headquarters in Toronto, Ontario.
|Market Cap: 68.23||P/E: n/a||Shiller P/E: n/a|
|P/B: 1.26||P/S: 2.543||EV/EBITDA: n/a|
|52 Week Low: 3.35||52 Week High: 7.52||Average Volume: 35,000|
With its shares down 4.29%, TSX:NXJ trades at $3.35.
There are currently no gurus followed by GuruFocus that hold shares in NexJ.
For more information on NexJ’s insider trades, click here.
3. Amica Mature Lifestyles Inc. (TSX:ACC)
Amica Mature Lifestyles reported five insider transactions coming from two different insiders this past week. The two insiders added over 11,000 shares of company stock.
- Founder and Chairman of the Board, Samir Manji, made four insider buys on March 19 and 20. Manji added 11,250 shares at an average share price of $9.07. Manji spent a total of $110,981 this past week.
- Director Charles van der Lee added 650 shares on March 18. Each share traded for $9.21. van der Lee spent a total of $5,987.
Amica manages, markets, designs, develops and owns retirement housing centers throughout Canada. The company also offers Wellness & Vitality programs for retired people. Amica maintains its headquarters in Vancouver, British Columbia.
|Market Cap: 272.06 M||P/E: 36.12||Shiller P/E: 70.8|
|P/B: 1.61||P/S: 2.804||EV/EBITDA: 20.46|
|52 Week Low: 8.50||52 Week High: 10.01||Average Volume: 38,616|
Mawer New Canada Fund currently holds 385,761 shares in Amica.
With its shares down 1.12%, TSX:ACC trades at $9.11.
To view more insider trades at Amica, click here.
Notable Insider Sells
1. Bank of Nova Scotia (TSX:BNS)
The Bank of Nova Scotia reported six insider sells starting on March 14 with the last one reported occurring on March 20. The group has sold 302,624 shares of the bank and has raked in well over $18 million.
· On March 14 Group Head of Global Human Resources and Communications, Sylvia Chrominska, sold 14,528 shares at $ 60.06 each, earning her $872,552.
· On March 15 Group Head and Chief Risk Officer, Robert Pitfield, sold 50,000 shares at $59.94 for a total of $2,997,000. Pitfield then sold another 129,096 shares for the same amount. This transaction raked in $7,738,014.
· On March 19 Vice Chairman and COO, Sarabjit Marwah, sold 19,000 shares at $59.87 each for a total amount of $1,137,530. Marwah still holds on to 224,518 shares of the bank’s shares. Also on the 19th, CEO Richard Waugh sold 58,000 of his shares in the company. Each share went for $59.66 for a grand total of $5,071,100. Waugh still holds on to 253,931 shares.
· On March 20, Sylvia Chrominska sold another 5,000 shares at $59.36 each. She made $296,800. After her most recent transaction, Chrominska holds on to 57,052 shares.
Bank of Nova Scotia or Scotiabank, is a multinational financial services provider and Canada’s most international bank. Corporate headquarters of Scotiabank are located in Toronto, Ontario. Scotiabank also trades in the NYSE as BNS.
|Market Cap: 70.97 B||P/E: 11.28||Shiller P/E: 14.03|
|P/B: 1.74||P/S: 3.42||EV/EBITDA: 12.13|
|52 Week Low: 50.26||52 Week High: 61.84||Average Volume: 1,908,620|
Scotiabank is held three gurus followed by GuruFocus: Signature Select Canadian Fund (404,950 shares), Mawer Canadian Equity Fund (912,874 shares), and Leith Wheeler Canadian Equity (1,273,390 shares).
With its shares down 0.27%, TSX:BNS trades at $59.84.
For more information on insider trades at Scotiabank, click here.
2. TransCanada Corp. (TSX:TRP)
March has been a big month in insider selling for TransCanada Corp. TransCanada reported another two insiders making ten sells on March 18 and 19. The two executives made a total of $768,884 with their sells.
- On March 18 Vice President, Patrick Keys, sold a total of 15,000 shares in six different transactions. The average price of each share was $48.93. Keys made $522,021 in this transaction.
- On March 19 Senior VP of Oil Pipelines, Paul Miller, sold a total of 5,000 shares in four different transactions. The shares sold for approximately $49.37 each. Miller made $246,863 in selling these shares.
The graph above shows the increased insider selling in the past couple of months as the share price has nearly hit the 10-year high of $49.61.
TransCanada is an energy company which operates in two segments, pipelines and energy. The company deals in the responsible development and reliable operation of North American energy infrastructure including natural gas pipelines, regulated gas storage facilities and projects related to oil pipelines.
|Market Cap: 34.48 B||P/E: 33.63||Shiller P/E: 21.08|
|P/B: 2.04||P/S: 4.172||EV/EBITDA: 16.18|
|52 Week Low: 41.47||52 Week High: 49.61||Average Volume: 1,158,320|
Signature Select Canadian Fund holds 105,727 shares of company stock and Leith Wheeler Canadian Equity owns 1,083,600 shares.
With its shares up 0.21%, TSX:TRP trades at $48.83.
For more information on TransCanada’s insider trades, click here.
3. Paramount Resources (TSX:POU)
Paramount Resources reported a significant insider sell on March 18.
Director Thomas Claugus sold a total of 38,000 shares at $33.81 per share. Claugus raked in $1,284,780 in this transaction. He still owns at least 36,001 shares of Paramount stock.
Paramount Resources is a Canadian energy company that explores for, develops, processes, transports and markets petroleum and natural gas. Paramount operates out of four units: Kaybob, Grande Prairie, Northwest Alberta and Northeast British Columbia, and the Southern unit that encompasses Alberta, Montana and North Dakota. Paramount is based out of Calgary, Alberta.
|Market Cap: 3.37 B||P/E: 6.74||Shiller P/E: 168.57|
|P/B: 3.95||P/S: 17.212||EV/EBITDA: 145.26|
|52 Week Low: 22.06||52 Week High: 38.65||Average Volume: 175,599|
Mawer New Canada Fund currently holds 514,893 shares of Paramount Resources stock.
With its shares up 1.8%, TSX:POU trades at $37.40.
For more information on insider trades with Paramount Resources, click here.
4. New Gold Inc. (TSX:NGD)
New Gold Inc. reported two substantial insider sells this week.
- On March 14 President and CEO, Robert Gallagher, sold 119,940 shares at $9.58 each. Gallagher made $1,149,025 in this transaction. He still holds on to 280,060 shares of company stock.
- On March 18 VP of Legal Affairs and Corporate Secretary, Susan Toews, sold 69,800 shares for $9.57 each. Toews made $667,986 in this transaction. Toews still holds 254,533 shares of New Gold.
New Gold is an intermediate gold mining company. The company has a portfolio of four producing assets and two significant development projects. In 2013, the company is forecasting between 440,000 and 480,000 ounces of gold production.
|Market Cap: 4.54 B||P/E: 22.4||Shiller P/E: -66.92|
|P/B: 1.66||P/S: 6.154||EV/EBITDA: 17.09|
|52 Week Low: 7.20||52 Week High: 12.50||Average Volume: 990,239|
There are no gurus that currently hold stake in this company.
With its shares up 2.69%, TSX:NGD trades at $9.54.
For more information on New Gold’s insider trades, click here.
To view more Canadian insider trades, check out the Canadian Real-Time Insider Buys and Sells.
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- CEO Buys, CFO Buys: Stocks that are bought by their CEO/CFOs.
- Insider Cluster Buys: Stocks that multiple company officers and directors have bought.
- Double Buys:: Companies that both Gurus and Insiders are buying
- Triple Buys: Companies that both Gurus and Insiders are buying, and Company is buying back.