A look at the inside buyers and sellers over the last few days on the TSX and Venture exchanges shows an insider at Largo Resources (
TSX:V.LGO,
Stock Forum) took home over $900,000 after selling that company’s 4.15 million shares Wednesday, presumably because daddy wants a steak dinner. The last insider buy at Largo before that was in early September.
He should have waited – shares in Largo spiked 13% today, which would have been good for another $117,000 or so, or 2,340 additional steak dinners.
Midnight Sun Mining (
TSX:V.MMA,
Stock Forum) insiders took the chance to dump $186k of stock Wednesday, dealing away over 1 million shares on a 30% price spike, and a CMC Metals (
TSX:V.CMB,
Stock Forum) player took home $100k in losing 2 million shares on the Venture, which sounds nice until you realize those shares would have been worth an extra 20k the next day. What a difference $0.01 in share price makes.
The only notable Venture Exchange inside sell-off Thursday was with BSM Technologies (
TSX:V.GPS,
Stock Forum), where $109k of shares were traded away, presumably taking profits after a 200% share price increase since April.
On the TSX side, Thomson Reuters (
TSX:T.TRI,
Stock Forum) sucked up $6.4m of stock on Wednesday and another $5.6m today as part of their new stock buyback program, while Transcontinental Inc. (
TSX:T.TCL.A,
Stock Forum) honchos vacuumed up $4 million of TCL.A shares, and $2.2 million of Intact Financial (
TSX:T.IFC,
Stock Forum) was acquired by someone inside that company Thursday.
CIBC, Agrium and Tim Hortons continue their large scale buyback programs, consuming a few million bucks a day of common stock per day as per the norm.
On the selling side Wednesday, FirstService Corporation (
TSX:T.FSV,
Stock Forum) insiders cashed in 45,000 shares, equal to $1.95 million of the $1.95b market cap property services company.
The Hudsons Bay Company (
TSX:T.HBC,
Stock Forum) also saw internal sellers hit the market, with $960k of stock sold off with shares moving higher. First Majestic Silver (
TSX:T.FR,
Stock Forum) saw $500k of insider shares move out Wednesday riiiiiight before a 6.5% plunge as third quarter results loom.
Thursday saw someone at Canadian Western Bank (
TSX:T.CWB,
Stock Forum) drop 13,700 shares, for a haul of $461k, by far the largest inside sell-off on the TSX that day, perhaps because every other Venture company is worth about eight cents in market cap.