Insider Deals: CVTech insider bails after merger fail, Terrace Energy profit-taking

Chris Parry Chris Parry, Stockhouse.com
0 Comments| October 28, 2013


Today on the insider deals front, there’s a few big moves from those in the know.

One of the biggest is the sell-off by an insider at Terrace Energy Corp (TSX:V.TZR, Stock Forum), where 700,000 shares were cashed in for a $1.68 million return. Terrace share prices bounced around all day before settling at the trade open price of $2.45. There was no immediate news to justify the sale, but the stock is up around 100% on the year so, well played sir, if you're reading.

Buying into a company that you’re an insider of generally conceived of as a sign of good things to come, so Stream Oil & Gas (TSX:V.SKO, Stock Forum) might be worth a look going forward, based on the 1.5 million share, $1.05 million insider purchase of that company today.

Calgary-based Stream does business in Albania and recently saw a change in the CFO position of the organization. Shares have jumped around 10% in October.

On the main stage at the TSX, Richelieu Hardware (TSX:T.RCH, Stock Forum) dominated the insider buying, picking up 174,200 T.RCH shares worth $7.7 million. That dwarfed all other insider activity, even with CIBC, Tim Hortons and Agrium engaged in an ingoing buyback.

Finally, on the selling side of the TSX, an insider chose today to dump $360k of CVTech (TSX:T.CVT, Stock Forum) stock after the company announced late Friday that it would not be proceeding with a planned acquisition of a U.S. electrical company.

Shares dropped 9.17% on the news, falling ten cents to $0.99.

The largest sell-off by insiders on the TSX today was for convenience store operator Alimentation Couche-Tard Inc. (TSX:ATD.B, Stock Forum), where 7493 shares were sold for a value of $527k.

Tags: OIL & GAS E&P DIVERSIFIED INDUSTRIALS GROCERY STORES HOME FURNISHINGS & FIXTURES

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