Directors Trades: Phosphate fertiliser maker Fertoz directors bank on share price growth
In many ways crop farming and share investing are similar. There’s the hope both will grow and you’ll reap what you sowed.
Sometimes this happens, other times it doesn’t.
This week, two directors from phosphate fertiliser maker Fertoz (ASX:FTZ) took a punt the stock would grow.
Fertoz undertook a $2.5m capital raising and James Chisolm bought $90,000 while Stuart Richardson bought $30,000.
The company has admitted 2019 was a tough year due to extreme weather events but thinks 2020 will be better. Its goal is to be cashflow positive this year.
There were four directors who made trades above $100,000 each in the last week.
Two of the directors were from communications provider Service Stream (ASX:SSM). Brett Gallagher bought $352,864, while Peter Dempsey bought $117,993 — both on market.
While the trading policies of many companies inhibit company employees from trading before half or full yearly results (which are due by the end of this month), Service Stream released its own results back on February 5.
The company made a $32.3m profit after tax from $497.8m in revenue. These were up 28 per cent and 50 per cent respectively from the prior corresponding period.
Earlier this month Tinybeans (ASX:TNY) announced it was buying a US parenting platform it had its eye on for several years. To do so it undertook a $12m capital raising.
It also sold $4m in secondary shares, the majority of which came from co-founder Stephen O’Young who will step down after assisting with the transition. He sold $2.7m in stock.
Finally, Ziggy Lubieniecki, a director of gold and base metals explorer Hammer Metals (ASX:HMX), bought $130,000 in a rights and shortfall issue. His colleague Russell Davis also chipped in $80,000.