Directors Trades: With summer approaching, do you cash out or hold & hope for growth?
Director Trades
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With daylight saving hitting on the weekend, summer is coming if it’s not here already. This leaves a tough choice.
Do you hold a stock hoping it’ll grow? Or do you cash out and spend on…whatever you couldn’t do during winter, like a surfboard or perhaps an outfit for the races?
This week there were 23 directors that traded more than $100,000 of stocks — $20.8 million between them. Among the traders was a trio and three couples. The trio consisted of Liontown Resources’ (ASX: LTR) Timothy Goyder, Steven Chadwick and Anthony Cipriano. They bought $1.3 million between them in a placement, although Goyder trumped them all buying $1.1 million.
The lithium miner has been one of the most successful mining stocks in 2019 having stumbled across one of Australia’s biggest lithium deposits. It has raised $18 million to advance its project.
Among the couples were Phoslock Environmental Technologies (ASX: PET) directors Ningping Ma and Zhigang Zhang who sold over $10 million between them. While no reason was given on this occasion, the board said last month a fund manager wanted to buy in and sold $35 million between them.
Simble Solutions’ (ASX: SIS) Phillip Tye and Fadi Geha bought $100,000 each and PINCHme.com’ (ASX: PIN) Jeremy Reid and Walter Pisciotta bought $549,214 between them. What does a company with a name like that do, you might ask? We’ll let them tell the story.
| Code | Company | Director | Change | Date | Volume | $ | What |
|---|---|---|---|---|---|---|---|
| MGX | Mt Gibson Iron | Lee Seng Hui | Buy | 24 September-26 September | 774464 | $577,212 | On market |
| SDG | Sunland Goup | Sahba Abedian | Buy | 27 September | 300,000 | $496,500 | On market |
| KYK | Kyckr | Robert Leslie | Sell | 25 September | 3,000,000 | $853,094 | On market |
| SIS | Simble Solutions | Phillip Tye | Buy | 24 September | 2,000,000 | $100,000 | Placement |
| SIS | Simble Solutions | Fadi Geha | Buy | 24 September | 2,000,000 | $100,000 | Placement |
| OMH | OM Holdings | Low Ngee Tony | Buy | 27 September | 521,000 | $234,333 | On market |
| LTR | Liontown Resources | Timothy Goyder | Buy | 27 September | 9,166,666 | $1,100,000 | Placement |
| LTR | Liontown Resources | Steven Chadwick | Buy | 27 September | 833,333 | $100,000 | Placement |
| LTR | Liontown Resources | Anthony Cipriano | Buy | 27 September | 833,333 | $100,000 | Placement |
| CMM | Capricorn Metals | Myles Ertzen | Buy | 30 September | 2,592,220 | $414,755 | Placement |
| ERL | Empire Resources | Michael Ruane | Buy | 24 September | 1,600,000 | $158,000 | On market |
| AX1 | Accent Group | Michael Hapgood | Sell | 1 October | 322,310 | $549,385 | On market |
| EGH | Eureka Group Holdings | Lachlan McIntosh | Sell | 25 September | 6,700,138 | $1,943,040 | Off market |
| MNF | MNF Group | Andy Fung | Sell | 1 October | 487,383 | $2,482,171 | On market |
| IDX | Integral Diagnostics | Helen Kurincic | Buy | 30 September | 71,214 | $192,990 | Rights Issue |
| PET | Phoslock Environmental Technologies | Ningping Ma | Sell | 3 October | 1,646,802 | $2,206,714 | Off market |
| PET | Phoslock Environmental Technologies | Zhigang Zhang | Sell | 3 October | 5,859,515 | $7,865,150 | Off market |
| NWM | Norwest Minerals | Yew Fei Chee | Buy | 2 October | 1,666,667 | $250,000 | Rights Issue |
| PIN | PINCHme.com | Jeremy Reid | Buy | 27 September | 2,301,459 | $230,146 | Rights Issue |
| PIN | PINCHme.com | Walter Pisciotta | Buy | 27 September | 3,190,675 | $319,068 | Rights Issue |
| ARQ | ARQ Group | Karl Siegling | Buy | 30 September | 300,000 | $112,873 | On market |
| LBL | Laserbond | Gregory Hooper | Sell | 2 October | 236,000 | $181,154 | On market |
| VIP | Voltage IP | Wee Min Chen | Sell | 1 October | 9,400,000 | $271,660 | Off market |
Who went solo?
That still left 14 directors who traded solo. The biggest trade came from telco MNF Group (ASX: MNF) director Andy Fund who sold $2.5 million. But he still owns 18.5 per cent of the company and is easily the largest holder.
On the other hand, the next biggest solo trader, Lachlan McIntosh from senior community builder Eureka Group (ASX: EGH), sold $1.9 million — all of his shares according to the 3Y notice filed with the ASX.
And since one of Australia’s most successful tech entrepreneurs Richard White invested in Kyckr (ASX: KYK), other investors followed his lead. But Robert Leslie went the other way: he sold $853,094.
Among buyers this week, Mt Gibson Iron (ASX: MGX) director Lee Seng Hui bought $577,212 of shares across multiple transactions. He also splashed out $1.5 million in the company’s dividend reinvestment plan.
Capricorn Metals (ASX: CMM) director Myles Ertzen bought $414,755 while Empire Resources (ASX: ERL) director Michael Ruane spent $158,000.
