Hi Chris,
First off, the entire industry has pulled back in recent months and as such, insider selling is not the sole reason it has dipped. Secondly, insider sells aren't as reliable as insider buys for a number of reasons. For starters, one never knows why an insider is selling. Perhaps it is a case of portfolio re-balancing, they may count on selling shares as part of their salary, or may be planning a big purchase and require liquidity to do so. None of these are a direct reflection on the company's position.
Furthermore, there hasn't been a great deal of selling. In the past three months, there have only been 3 sell trades on the open market. It is important to make the distinction between buys/sells on the open market and sells tied to options/warrants and pre-determined disposition plans. They are not equal, and should not be lumped together. Most sites will lump all these together and it gives a false impression that there is a huge amount of insider selling taking place when the reality is quite different.
At this point, we see no concerns with the limited insider selling taking place at Algonquin.
Regards,
Mat