Director Trades: The little guys are buying while the big dawgs are sleeping
There were eight trades by directors over $100,000 last week, as the big spenders among the director crowd remain on the sidelines.
But what is beginning to come back are the $10,000 to $100,000 on-market trades.
Eighteen directors fell into this category.
On-market trading is viewed as a telling sign of a director’s confidence in their company, because they are using their own money at a time when buying (or selling) is entirely their choice.
Lev Mizikovsky is still buying Tamawood (ASX:TWD) shares, buying $73,752 last week.
Mr Mivikovsky has been buying most weeks since the bottom fell out of the home builder’s share price in mid-November, and has almost hit 50 percent.
Simon Panton at Resonance Health (ASX:RHT) bought $71,000 of stock on market, a 1m shares to the 72.5 he already had.
Unlike Tamawood shares, Resonance’s have been consistently rising after the company changed its sales strategy and added an AI level to their product.
Dateline Resources’ (ASX:DTR) chairman Mark Johnson’s shareholding has climbed to 18.06 per cent from 12.58 per cent after he underwrote a rights issue to the value of $1.6m, taking his total commitment to over $3m.
Dateline owes about $1m worth of “friendly debt” to Mr Johnson and its largest shareholder Southern Cross (ASX:SXX), who now jointly own nearly 80 per cent of the company.
Millionaire brothers Bernard and Maurie Stang settled two loans of $500,000 each with Aeris Environmental (ASX:AEI) for 2.9m shares each.
Between them they also spent almost $100,000 on the air quality company’s latest capital raising. They now own 28 per cent of the company.
Moving down the size ranks comes Piedmont Lithium (ASX:PLL), where accountant and company chairman Ian Middlemas put $210,000 into a capital raising. He now owns 21.9m shares in the company.
Tim Mahoney at Xref exercised a pile of options for $207,000 — 900,000 to be exact — which doubled his holding to 2.6m shares in the recruitment company.
At Orion Metals (ASX:ORM) directors Feng Wu and Yi Yang did something similar, exercising $167,000 of options via their company Excellence Holdings which gave them another 33m shares. The exercise price of 0.5c meant they made an instant profit of $64,000 each thanks to the Friday market price being 0.7c.
The holding company now has 330m shares in Orion, giving them 69 per cent of the company.
The last big trade was Howard Whitesmith in Q Technology (ASX:QTQ). He sank $100,000 into yet another company cap raise.