Director Trades: The big traders are back from holidays
Link copied to
And we’re back: it’s only taken almost two months after the Christmas holiday, but small cap directors have woken up and starting buying (and selling) again in large dollar figures.
Eleven directors bought or sold more than $100,000 of stock. Dozens more made on-market trades between $10,000 and $100,000.
Only three of the big dogs could boast on-market purchases, however, generally taken as a solid indicator of a director’s confidence in the company they run.
Over a period of seven days billionaire Alex Waislitz added to his haul at Thorney Technologies (ASX:TEK), his listed technology investor.
Mr Waislitz, who turned 61 this week, owns almost 23 per cent of the company.
A few Praemium (ASX:PPS) directors bought on market last week, but the biggest plump was by Stuart Robertson, a man who was elected to the top in 2017 as part of a boardroom coup.
Mr Robertson doubled his shareholding with a $103,000 spend.
And at the company formerly known as APN Media — HT&E (ASX:HT1) — new chair Hamish McLennan (former boss of Ten Network) made his first purchase.
It cost him $130,000.
Mr McLennan has been an ad man since day dot, and his Wikipedia profile spruiks his economic credentials: he’s been “a participant at the World Economic Forum at Davos”.
Directors at Energy Technology (ASX:EGY), a company that is hanging on by the skin of its teeth after some heavy losses, a recapitalisation and a share 100:1 share consolidation, had their convertible notes turned into equity.
The loans were for sizeable amounts of money and the directors received huge volumes of stock, as the consolidation saw the number of shares on issue go from 348m to 57m.