The market carnage is certainly proving a great buying opportunity for directors, with even more last week, compared to the week before, scrambling to top up their holdings.

Stockhead found 21 directors trades over $100,000 among ASX small caps — and all but two of them were buys.

Code Company Director Change Date Volume $ What
SPZ Smart Parking Christopher Morris Buy 26 February 572,523 $104,739 On market
OTW Over the Wire Michael Omeros Buy 28 February 52,000 $171,369 On market
OTW Over the Wire John Puttick Buy 3 March 32,965 $104,438 On market
ATL Apollo Tourism & Leisure Karl Trouchet Buy 28 February 674,114 $205,210 On market
PGH Pact Group Carmen Chua Buy 25 February 105,000 $102,000 On market
BPL Broken Hill Prospecting Geoffrey Hill Buy 24 February 29,600,347 $444,005.21 Rights Issue
AMA AMA Group Anthony Day Buy 2 March 200,000 $105,375 On market
KSL Kina Securities Greg Pawson Buy 27 February 134,229 $109,117 On market
PNV PolyNovo David Williams Buy 2 March 100,000 $221,000 On market
CCX City Chic Collective Michael Kay Buy 2 March 80,000 $240,229 On market
RDC Redcape Hotel Group Daniel Brady Sell 27 February 900,000 $1,001,250 On market
KKO Kinetiko Energy Adam Sierakowski Buy 3 March 7,435,683 $148,714 Rights Issue
KKO Kinetiko Energy Agapitos Michael Buy 3 March 5,000,000 $100,000 Rights Issue
EVS Envirosuite Hugh Robertson Buy 27 February 8,000,000 $2,000,000 Placement
MYX Mayne Pharma Bruce Mathieson Buy 3 March 3,687,274 $1,170,433 On market
SRV Servcorp Alfred Moufarrige Buy 26 February 200,000 $800,000 On market
360 Life360 James Synge Buy 2 March 40,000 $103,700 On market
WPP WPP John Steedman Buy 28 February 320,000 $190,742 On market
TLX Telix Pharmaceuticals Mark Nelson Buy 27 February 400,000 $576,000 On market
PGH Pact Group Raphael Germinder Buy 4 March 2,360,000 $4,720,000 On market
CAJ Capitol Health Andrew Harrison Buy 6 March 1,600,000 $464,000 On market

 

A few of these trades ran into the millions. Hugh Robertson from environmental data software maker Envirosuite (ASX:EVS) led the buyers, buying $2m worth of company shares in a placement.

Its share price has not escaped the market downturn, more than halving since November. But on Friday the company said it was on track to reach $100m in revenue and the virus did not mean its clients no longer had to meet environmental monitoring requirements.

Next up with a multimillion share buy is drug maker Mayne Pharma’s (ASX:MYX) Bruce Mathieson, who dropped $1.17m in an on-market buy.

The company has also been suffering share price wise, and admitted things could be better after reporting a half-yearly loss after tax of $17.5m.

But Mayne Pharma said it would get back on its feet by cost cutting and rationalising its portfolio.

Finally, the week’s only two sellers were Raphael Geminder of Pact Group (ASX:PGH) who parted with $4.7 million and Daniel Brady, CEO of hotelier Redcape (ASX:RDC). The latter company said it was “to meet [Brady’s] personal financial commitments”.

 

What goes down must come up…

Most other directors bought on market. Among the most notable was rich lister and Servcorp (ASX:SRV) founder Alfred Moufarrige, who bought another $800,000.

Child tracker Life360 (ASX:360) was having a bad run before the coronavirus spooked investors and has now lost 45 per cent since it’s May IPO. But director James Synge took a leap of faith, buying just over $100,000 on market last week.

While womens retailer City Chic Collective (ASX:CCX) has lost 42 per cent of it’s value in just two weeks it is still trading more than 19x higher than its price in December 2017. Director Michael Kay bought $240,229 worth of shares as the price dipped.

One of the few stocks on this list sitting on a gain is PR agency WPP (ASX:WPP), which has risen a modest 8 per cent. Director John Steedman bought $190,742 on market last week.

Among the biotechs, Telix Pharmaceuticals’ (ASX:TLX) Mark Nelson paid $576,000 for more shares. The company is developing drugs for various cancers and is one of the closest to commercialisation because a couple of its clinical trials are already at the phase-three stage.

 

Two is better than one

There were two duos of directors who tipped more money in last week. Michael Omeros and John Puttick from telco Over the Wire (ASX:OTW) bought $275,000 worth of stock between them.

The other duo comprised Kinetiko Energy (ASX:KKO) directors Adam Sierakowski and Agapitos Michael, who bought $248,000 between them.

The Africa-focused coal bed methane and gas explorer has been suspended from the ASX since late 2017 but the capital raise will help it relist.