Only a few weeks after big bank Westpac (ASX:WBC) downgraded its profit, two directors took a leap of faith by purchasing shares on market.

Westpac downgraded its profit expectations by $1.3 million and it predominantly blamed a $965 million write down of assets following an annual impairment test.

Its shares have dropped 13% over the past month and it is the only big bank to be below its mid-February 2020 peak.

But three of the company’s directors betted on the company to bounce back. John McFarlane bought $115,911, Audette Excel bought $101,015 and Michael Hawker bought $198,881. All three bought on market.

Code Company Director Change Date Volume $ What
AT1 Atomo Diagnostics John Kelly Sell 3 November 1,040,000 $286,896 On market
RF1 Regal Investment Fund Michael O'Brien Buy 4 November 36,666 $138,964 Top up facility
SKY Sky Metals Norman Seckold Buy 5 November 1,669,437 $133,555 On market
HLS Healius Malcolm Parmenter Sell 8 November 143,193 $713,101 On market
FZO Family Zone Matthew Stepka Sell 5 November 1,000,000 $300,000 On market
IAG Insurance Australia Thomas Pockett Buy 1 November 25,000 $120,000 On market
DMN Dominion Minerals David Brookers Buy 8 October 2,500,000 $100,000 Public Offer
NWC New Hope Robert Millner Buy 8 November 250,000 $511,650 On market
NWC New Hope Thomas Millner Buy 8 November 100,000 $191,930 On market
AUZ Aurizon Timothy Poole Buy 4 November 45,000 $153,000 On market
GMG Goodman Group Anthony Rozic Sell 5 November 375,000 $8,976,360 On market
GWR GWR Group Tien Seng Law Buy 25 August 11,900,000 $2,142,000 Off market
LRL Labyrinth Resources Ross Graham Buy 8 Nov 16,000,000 $480,000 Placement
WBC Westpac Audette Exel Buy 5 November 4,450 $101,015 On market
WBC Westpac Michael Hawker Buy 3 November 8,655 $198,881 On market
OCL Objective Corporation Gary Fisher Sell 9 November 2,000,000 $40,400,000 On market
SHJ Shine Justice Simon Morrison Buy 5 November 275,000 $371,003 On arket
HMC Home Consortium Christopher Saxon Buy 9 November 18,825 $150,977 On market
SNG Siren Gold Brian Rodan Buy 8 November 324,000 $124,444 On market
LKE Lake Resources Nicholas Lindsay Buy 9 November 600,000 $637,267 On market
IMA Image Resources Li Huang Cheng Buy 8 November 2,500,000 $501,078 On market
ORE Orocobre Martin Perez de Solay Sell 10 November 50,000 $459,500 On market
HNR Hannans Markus Bachmann Buy 8 November 8,112,839 $203,821 Rights Issue
DEG De Grey Mining Simon Lill Sell 11 November 500,000 $598,564 On market
AFR African Energy Resources Alasdair Cooke Buy 21 October 5,000,000 $100,000 Placement
GNG GR Engineering Services Geoffrey Jones Sell 9 November 878,102 $1,571,890 Of market
E2M E2 Metals Todd Williams Buy 11 November 400,000 $100,000 Off market
MBH Maggie Beer Maggie Beer Buy 12 November 400,000 $180,415 On market
SWM Seven West Media David Evans Buy 11 November 470,000 $274,950 On market
SDF Steadfast Group Robert Kelly Sell 9 November 291,000 $1,455,000 On market
NCM Newcrest Mining Peter Tomsett Buy 11 November 20,000 $512,356 On market
MTO Motio Harley Grosser Buy 10 November 2,321,791 $209,010 On market
ORA Orica Boon Swan Foo Buy 15 November 16,000 $334,315 On market
INA Ingenia James Hazel Buy 15 November 20,904 $127,932 Rights Issue
RMG Resource Mining Corporation Zhang Chi Sell 12 November 136,793,768 $1,000,000 Off market
NCM Newcrest Mining Sandeep Biswas Sell 11 November 18,304 $468,411 On market
NCM Newcrest Mining Gerard Bond Sell 11 November 6,031 $154,337 On market
LVH Livehire Michael Rennie Buy 11 November 260,000 $100,145 On market
ICL ICeni Gold Brian Rodan Buy 15 November 503,500 $123,086 On market
INA Ingenia Simon Owen Sell 10 November 75,950 $500,192 On market
EPD Empired Richard Bevan Sell 16 November 79,800 $107,730 Takeover
EPD Empired John Bardwell Sell 16 November 4,300,000 $5,805,000 Takeover
EPD Empired Russel Baskerville Sell 16 November 14,006,883 $18,909,292 Takeover
EPD Empired Cristiano Nicolli Sell 16 November 373,500 $504,225 Takeover
EPD Empired Thomas Stianos Sell 16 November 243,200 $328,320 Takeover
APM APM Human Services Megan Wynne Sell 17 November 8,573,563 $30,436,149 Sell down
TAH Tabcorp Holdings Bruce Akhurst Sell 12 November 30,000 $154,197 On market
APM APM Human Services Simone Blank Sell 17 November 252,130 $895,062 Sell down
APM APM Human Services Robert Melia Sell 17 November 700,000 $2,485,000 Sell down
APM APM Human Services Michael Anghie Sell 17 November 11545462 $40,986,390 Sell down
MGH Maas Group Stephen Bizzell Buy 12 November 36,363 $199,997 Placement
NHF NIB Mark Fitzgibbon Buy 11 November 47,000 $340,265 On market
INA Ingenia John McLaren Buy 15 November 7,897,300 $48,331,476 Rights Issue
INA Ingenia Gary Shiffman Buy 15 November 7,897,300 $48,331,476 Rights Issue
LOT Lotus Resources Grant Davey Sell 17 November 5,099,284 $1,730,034 Off market
3PL 3P Learning Allan Brackin Buy 12 November 72,895 $107,393 On market
AUZ Aurizon Andrew Harding Buy 17 November 1,000,000 $3,414,000 On market

 

Other buyers

A significant portion of directors who bought came from the coal and gold sectors.

New Hope (ASX:NWH) directors Thomas and Robert Millner both chipped in with $191,930 being bought indirectly and Robert buying another $120,450 directly and $199,270 indirectly.

Aurizon (ASX:AUZ), which is in the industry as a coal transportation firm, had two directors open their wallets. First Timothy Poole who bought $153,000, and a few days later Andrew Harding who bought $3.4 million.

Peter Tomsett from gold miner Newcrest (ASX:NCM) bought just over $500,000 on market.

At the other end of the gold industry, explorer Labyrinth (ASX:LRL) had three directors buy into a placement, although just one, Ross Graham, exceeded $100,000, purchasing $480,000.

Brian Rodan from Siren Gold (ASX:SNG) bought $124,444 in a capital raising while Norman Seckold from Sky Metals (ASX:SKY) bought $133,555 on market.

Other commodities saw a handful of purchases too, including from Lake Resources’ (ASX:LKE) Nicholas Lindsay who bought $637,267 on market and David Brooks from lime explorer Dominion Minerals (ASX:DLM) who bought $2.5 million as part of the reverse takeover which saw it list.

 

Sellers

Last week the takeover of Empired (ASX:EPD) finally went ahead and all directors sold their shares with the biggest two being Russell Baskerville who parted with $18.9 million and John Bardwell who sold $5.8 million.

There were two sales over $40 million – first Gary Fisher from Objective Corp (ASX:OCL). The second came from Michael Anghie of recent listee APM Human Services (ASX:APM).

The latter trade was part of a selldown as part of the IPO and three other APM directors also participated, with the next biggest being Megan Wynne who sold over $30 million.

Newcrest (ASX:NCM) directors Sandeep Biswas and Gerard Bond sold $468,411 and $154,337 respectively – both to pay a tax liability rising as a result of the release of ordinary shares under Newcrest’s Employee Share Scheme.

Anthony Rozic from real estate investor Goodman Group (ASX:GMG) parted with just over $8 million in shares in an on market trade.