Insider Trades: 15 ASX 200 directors bought and sold these stocks last week

Welcome back to the Insider Trades Series – A weekly summary of on-market ASX 200 director transactions valued at more than $10,000. The trades have all taken place between 13 and 21 March. Directors have up to 5 business days to notify the ASX of their trades.

Post-February reporting season, the volume of ASX 200 insider transactions remain elevated, with several buying into recent share price weakness.

Helia's Timely Selldown

Key takeaways

• Helia’s CEO, Pauline Blight-Johnston, sold around 393,000 shares (~$2.3 million) across seven transactions this month, nearly halving her stake to 420,630 shares.

• The company’s stock surged nearly 30% between February 24 and March 3, following a stronger-than-expected half-year result.

• On March 24, Helia disclosed that its major client, CBA, began exclusive talks with an alternative LMI services provider. If the negotiations succeed, Helia’s Supply and Service contract with CBA—set to expire on December 31, 2025, and representing 44% of FY24 gross written premiums—may not be renewed. The stock plummeted 25% at the session's open.

Flight Centre CEO Buys Into Weakness

Key takeaways

• Last week, Flight Centre’s CEO bought 356,264 shares ($5.0m), boosting his holdings to 33.5 million shares. The company’s stock dropped sharply during February’s reporting season, falling 10.1% on results day due to a weak corporate segment dragging down earnings. Although management reaffirmed full-year profit guidance, they noted the business is trending toward the lower-to-mid range, requiring a strong H2 performance that has sparked analyst skepticism.

• Since the initial selloff, Flight Centre shares have declined an additional 9%, pressured by airfare deflation and concerns over US demand following recent DOGE government cuts.

Ramelius' Selloff

Key takeaways

• On March 11, Ramelius shares dropped 15.7% after an updated mine plan for Mt Magnet revealed lower near-term production forecasts and higher capex expectations. The plan includes a mill expansion to 3Mtpa and a cutback of the Eridanus open pit, but disappointing ore grades at Eridanus led to reduced FY26 and FY27 production estimates, increased costs, and a negative impact on earnings forecasts and net present value (NPV).

• More recently, Ramelius announced a cash-and-scrip acquisition of Spartan Resources, a move analysts view as strategically sound for enhancing production and cutting costs. With Ramelius already holding a 19.9% stake and strong shareholder support, the deal faces little risk of disruption and is expected to close in Q3-CY25.

• Despite gold prices hitting four all-time highs and surpassing US$3,000, Ramelius shares have fallen about 20% since early March. Two Non-Executive Directors may see value at these levels.

Other ASX 200 Insider Trades

Insiders at SmartGroup, Lottery Corp, Super Retail, Bendigo Bank, and Perpetual have been buying shares amid recent weakness. Most of these companies reported disappointing earnings in February and have declined to yearly or multi-year lows.