Tuesday’s Insider Report: Multiple company leaders collectively sell over $300-million in this large-cap stock

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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.

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

Multiple company leaders collectively unloaded over $300-million worth of Alimentation Couche-Tard shares.

Alimentation Couche-Tard Inc. (ATD.A-T)

On Sept. 23 and 24, co-founder and director Jacques D’Amours sold a total of 3,411,988 class A shares at an average price per share of approximately $48, trimming this account’s position to 12,301,872 shares. Proceeds from the sales exceeded $163-million, excluding commission fees.

Alimentation Couche-Tard Inc. (ATD-B-T)

On Sept. 23 and 24, director Réal Plourde divested a total of 1,201,183 class B shares at an average price per share of roughly $48, leaving 7,735,917 shares in this account. Proceeds from the sales totaled over $57-million, not including trading fees.

Mr. Plourde is the former chairman of the board (between 2011 and 2014) and held numerous senior management positions at the company before retiring.

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On Sept. 23 and 24, co-founder and director Richard Fortin sold a total of 1,799,911 class B shares at an average price per share of approximately $48 for two accounts, eliminating the positions in both of these accounts. Proceeds from the sales exceeded $86-million, excluding commission charges.

Mr. Fortin is the company’s former chief financial officer and chairman of the board (between 2008 and 2011).

Cardinal Energy Ltd. (CJ-T)

On Sept. 27, lead director Stephanie Sterling divested 50,000 shares at a price per share of $4.229, reducing this specific account’s holdings to 218,154 shares. Proceeds from the sale exceeded $211,000, not including trading fees.

Hammond Power Solutions Inc. (HPS.A-T)

On Sept. 21, chairman and chief executive officer Bill Hammond sold 151,890 shares at a price per share of $10.80, after which this specific account held 920,330 shares. Proceeds from the sale totaled over $1.6-million, excluding commission charges.

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A news release issued on Sept. 14 stated that Mr. Hammond plans to use the proceeds for “diversification, estate planning, and charitable giving purposes.”

Sprott Inc. (SII-T)

On Sept. 28, director Rosemary Zigrossi sold 3,000 shares at a price per share of $47.0763 with just 500 shares remaining in this particular account. Proceeds from the sale exceeded $141,000, excluding trading fees.

Western Forest Products Inc. (WEF-T)

Between Sept. 13 and 24, president and chief executive officer Don Demens exercised his options, receiving a total of 683,611 shares at a cost per share of 96 cents, and sold 683,611 shares at an average price per share of approximately $2.07 with 845,000 shares remaining in this specific account. Net proceeds totaled over $757,000, excluding any associated transaction charges.

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