Directors Trades: Who was buying and selling last week?
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Directors trades can be a bet, in direct defiance of the market. Well, this was particularly true with Speedcast (ASX:SDA) director Pierre-Jean Beylier.
The company has continued to drop since its last major crash in July, but he made a $174,6o9 purchase on market.
Olivers’ Real Foods (ASX: OLI) CEO Jason Gunn sold another $114,290 in shares. But this was to lend to the company to keep it afloat while its cash reserves were depleted.
After several quarters of losses (and an associated share price decline), the company intends to be profitable this quarter.
Two weeks after Intellihr (ASX:IHR) reached 10,000 subscribers, the stock briefly spiked but began to fall. Robert Bromage bought $100,000 in a capital raise. He agreed to back in April and the shareholders signed off last week.
Dual listed miner Champion Iron (ASX:CIA) filed its feasibility study for its Bloom Lake iron ore project with the Canadian government a few weeks after revealing it to shareholders. Director William O’Keefe bought $120,874 on market last Thursday – three days afterwards.
One day after Ardea Resources’ (ASX:ARL) most recent gold discovery, Ian Buchorn bought $217,800 off market. But the company, wishing to focus more on its West Australian projects, intends to spin-off its New South Wales assets.
Another two gold company directors who bought were Bellevue Gold’s (ASX: BGL) Raymond Shorrocks and Stephen Parsons. They did so by exercising options worth $805,821 and $350,000 respectively.