An insider trader at Cogeco Cable (
TSX:T.CCA,
Stock Forum) (defined as an officer, director, or 10%+ stakeholder) took a powder on the stock today, selling off $3.98 million worth of shares. The sale didn’t have a particularly large effect on the market, however, with prices for CCA nudging down 0.4% on the day to $50.40.
Aecon Group (
TSX:T.ARE,
Stock Forum) also saw a large insider sale, with $906,000 going overboard on what appears to be profit-taking after a steady three-month climb from $11 to around $15. Aecon rose 3.94% on the day, resting at $14.79.
On the TSX insider buy side, action was dominated by the buyback programs of Thomson Reuters ($5.2m) and CIBC ($2.9m). Quebecor saw $2.3 million in shares purchased by insiders as another $1.2 million was dealt away.
One interesting insider buy on the TSX came from Canadian aerospace player Heroux-Devtek (
TSX:T.HRX,
Stock Forum), where $47,500 of stock was acquired by someone connected to the company on a day when layoffs were announced owing to a
slowdown in US government work. Shares dropped 3.76% overall to $8.95 per.
In Venture Exchange fun, there wasn’t a lot of insider buying going on. Reunion Gold (
TSX:V.RGD,
Stock Forum) led the field with $32.9k of shares being picked up by an insider, with Callinan Royalties Corporation (
TSX:V.CAA,
Stock Forum) boasting a similar $31.6k trade.
Prophecy Platinum (
V.NKL,
Stock Forum) saw $300,000 of stock sold off by an insider, leading on the volume side as well with 500,000 shares dealt in what was unlikely to be profit-taking as the company has been trading static for much of the year on decent volume.