Directors Trades: Who went Christmas shopping (for their company’s shares) last week?
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Christmas is the busiest time of the year for shoppers and the stock market is no different.
Leading the pack this week was a quartet of directors from New Zealand-based pre-school provider Evolve Education (ASX:EVO).
In a $19m placement, Chris Scott dropped $3.2m and Timothy Wong bought $4m worth of shares. Following was Adrian Fonseca with $292,500 and Chris Sacre with $370,000.
One of this year’s best IPOs was Aerometrex (ASX:AMX) which nearly doubled on its debut and has held its ground. The company has been in business for nearly four decades and is listing because it did not want to put the brakes on its growth.
Mark Lindh had 100,000 worth of shares in the company worth $100,000 which has nearly doubled in conjunction with the share price. Last week he bought nearly $100,000 more on market.
Ocean Grown Abalone (ASX:OGA), the only ASX stock selling abalone (a type of sea snail), saw Ignazio Ricciardi buy $238,639 worth of shares on market.
Dental stock Pacific Smiles Group (ASX:PSQ) has had a good year, gaining 37 per cent. Director Benjamin Gisz, who is a representative of major shareholder TDM Growth Partners, bought $577,500 on market last week.
A pair of directors from construction services provider Tempo Australia (ASX:TPP) bought stock in time for Christmas as well. Guido Belgiomo-Nettis bought $1.5m, while David Iverach bought $273,809.
You may remember Asimwe Kabunga from Lindian Resources (ASX:LIN), who bought $200,000 worth of shares last month. Last week he bought $131,570 in another one of his companies – Volt Resources (ASX:VRC).
While the infant formula sector has had a difficult year, Clover Corporation (ASX:CLV) has been one of the few performers, nearly doubling since last year. Peter Davey cashed out, selling $391,595.
The two other directors who made big sales this week both came from the same company. Champion Iron’s (ASX:CIA) William O’Keefe and David Cataford sold over $2m each.
But the pair exercised over $1m in options between them and the sale will fund the acquisition as well as the associated tax bill.