Director Trades: The ones with their wallets out at Christmas time
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The big spenders have bailed, leaving a harried few to mop up (or drop) a few shares two weeks before Christmas.
Now was as good a time as any for Austal (ASX:ASB) chairman John Rothwell to dump almost $1m of stock this week.
The shares have been tracking sideways since the tail end of 2016, notwithstanding consistent news about new contracts and boats delivered.
On November 11, 2016, Austal shares were $1.80. On Friday, they closed at $1.86.
>> Scroll down for the who’s who of traders last week.
It just so happens that on November 11, 2016, Mr Rothwell made his last trade in the company — this time buying 306,947 shares for about half a million bucks.
Think Childcare (ASX:TNK) chief and managing director Mathew Edwards also sold, making $260,000.
Two weeks earlier, Mr Edwards and chairman Mark Kerr watched as 33,333 and 13,333 performance rights, respectively, were cancelled as they hadn’t hit their targets.
Redbubble (ASX:RBL) founder Martin Hosking stepped down as chief of the company in June, citing the noble cause of needing to serve the business, not his own ego.
But he’s not gone.
Still on the board, Mr Hosking bought another 1.7m shares for just over $800,000 and owns almost 20 per cent of the company.
Redbubble’s shares have tanked since November after they said the marketplace was being penalised by a Google algorithm change — just before Thanksgiving. Sales for that festive season were up on the year before, but the vagaries of the Google Algorithm still spooked investors.
Dongfang Modern Agriculture’s (ASX:DFM) youthful chief was back buying, as he has been every week since the start of September.
He now owns 70 per cent of the China-focused orange grower.
Consolidated Zinc (ASX:CZL) chairman Stephen Copulos did a rubbish trade last week, buying stock for 2.4c and selling for 1.8c.
The purchase for $105,000 was part of a share purchase plan and the sale for $180,000 was an off market deal.
Mr Copulos has been around ASX boards for years, noting a series of mining and food companies on his resume from KFC to Crusader Resources.
He is also a big shareholder in Myer (ASX:MYR), and reckons the retailer should close a third of its stores ASAP — to teach its landlords a lesson.