Insider Trades: 19 ASX 200 directors bought and sold these stocks last week
Director's sold more than they bought last week, but the largest sell was a reward and one director bough during an activist campaign
Source: iStock
Mentioned
KEY POINTS
- The value of director selling outweighed buying last week, reversing the pattern of the previous three weeks.
- Northern Star's Jeff Quartermaine bought while Elliott Investment Management's board campaign was running, and now chairs the subcommittee that two Elliott-endorsed appointees will join from October.
- Pexa directors kept buying, with both purchases made at or above the prices paid by the four directors who bought the fortnight before.
Welcome back to the Insider Trades series – a weekly summary of on-market ASX 200 director transactions valued at more than $10,000. The below trades have all taken place between 4 and 10 September. Directors have up to 5 business days to notify the ASX of their trades.
Each week post reporting season has seen fewer director transactions that meet our threshold. Nonetheless, there are still some interesting insider trades to take a closer look at. The shape of the week has changed with sellers outweighing buyers: directors sold close to $14.0 million of stock against roughly $1.16 million of buying.
Northern Star director buys into an activist campaign
Jeff Quartermaine bought 10,000 Northern Star shares on 4 September at an average of $23.18, the largest single director purchase of the week and his first holding in the company. Quartermaine was appointed alongside Terry Bowen as independent directors as part of the company's succession planning.
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
NST | Northern Star Resources | 04/09/26 | Jeffrey Quartermaine | Buy | $23.18 | $231,800 |
Source: Market Index
The two directors have been appointed amid an activist campaign led by Elliott Management to make board changes of their own. Elliott separately succeeded in having its candidates appointed, with those changes taking effect in October.
At its recent full year result the company reported record earnings on a higher realised gold price, with underlying profit and the dividend both ahead of Macquarie ests, though gold sold slipped and FY27 output now hinges on the KCGM commissioning.
Revenue up 19% to $7.6bn
Average realised gold price up 26% to $4,925/oz
Gold sold down 6% to 1.54Moz
Underlying NPAT up 26% to $1.8bn, with underlying EPS of $1.24 vs $1.14 Macquarie ests (9% beat)
FY26 dividend of 55cps fully franked at the upper end of policy vs 53cps Macquarie ests (4% beat)
NST's share price rose 6% on the day of the results, but has subsequently lost most of those gains.
Pexa buying continues
Two more Pexa directors bought in the week to 10 September, following the four who stepped in immediately after the FY26 result. The volume has thinned in comparison to earlier directors, but Georgina Lynch paid $7.45, above anything paid by the earlier group, and Paul Rickard paid $7.05.
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
PXA | Pexa Group | 08/09/26 | Georgina Lynch | Buy | $7.45 | $89,876 |
PXA | Pexa Group | 09/09/26 | Paul Rickard | Buy | $7.05 | $70,500 |
Source: Market Index
The shares fell 17.4% on the 28 August result after FY27 guidance pointed to a double-digit decline in Australian property transfer volumes and a proposed 20% cut to regulated revenues by the state pricing regulator.
The stock has barely bounced since the result with only Mark Joiner's transaction (15,000 shares at $6.87) above water. Everyone else paid $7.06 to $7.45.
Other ASX 200 insider buys
Ticker | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
ALX | Atlas Arteria | 04/09/26 | Kiernan Bell | Buy | $4.58 | $206,100 |
DTL | Data#3 | 04/09/26 | Laurence Baynham | Buy | $11.07 | $169,698 |
CWY | Cleanaway Waste | 07/09/26 | Mark Schubert | Buy | $2.59 | $109,437 |
LLC | Lendlease Group | 07/09/26 | Lianne Buck | Buy | $2.93 | $98,818 |
NEC | Nine Entertainment | 10/09/26 | Leigh Terry | Buy | $0.78 | $30,063 |
CTD | Corporate Travel | 08/09/26 | Ana Pedersen | Buy | $2.28 | $27,360 |
LTR | Liontown | 04/09/26 | Adrienne Parker | Buy | $1.20 | $23,976 |
CTD | Corporate Travel | 09/09/26 | Ana Pedersen | Buy | $2.09 | $22,973 |
SGP | Stockland | 08/09/26 | Penelope Winn | Buy | $4.47 | $22,350 |
KAR | Karoon Energy | 08/09/26 | Joanne Palmer | Buy | $1.79 | $20,987 |
CHC | Charter Hall Group | 04/09/26 | Karen Penrose | Buy | $18.93 | $20,070 |
AZJ | Aurizon Holdings | 04/09/26 | Amanda McMillan | Buy | $3.75 | $12,817 |
Source: Market Index
An interesting mention goes to Data#3's Laurence Baynham. The 15,325 shares on 4 September show up as a buy, but he didn't pay for them. Baynham resigned from Data#3, and his exit terms entitled him to shares if the earnings target attached to the company's FY24 to FY26 long-term incentive plan was met. It was. Data#3 bought the shares on-market for $169,698.32 and transferred them to his family trust for nil consideration. He sold 20,000 of his own shares a week earlier, on 26 August, for $221,890.
Top ASX 200 insider sells: CEOs are selling
Insider sells topped buys this week, but the largest transaction made by Breville Group CEO was a vesting event rather than a decision to cut exposure.
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
BRG | Breville Group | 9/08/2026 | Sell | $31.68 | $4,365,323 | |
ALK | Alkane Resources | 9/04/2026 | Sell | $1.95 | $3,894,000 | |
ALD | Ampol | 9/04/2026 | Sell | $41.36 | $3,697,218 | |
ALD | Ampol | 9/04/2026 | Sell | $41.36 | $827,192 | |
BSL | Bluescope Steel | 9/04/2026 | Sell | $31.94 | $810,062 | |
BSL | Bluescope Steel | 9/04/2026 | Sell | $32.05 | $398,798 |
On 3 September, Clayton was rewarded 137,804 shares because Breville hit certain targets. He went on to sell those shares over the following days for $4.37 million. The shares he already owned were untouched, and he still has another 514,294 on the way if future targets are met.
Alkane Resources' Nicholas Earner sold $3.89 million on 4 September. It is the second consecutive week a gold producer's most senior figure has sold in size, after Genesis Minerals Executive Chair Raleigh Finlayson disposed of $41.3m the week prior. The company declared its maiden dividend at its 21 August results.
Maiden fully franked final dividend of 2.0cps for FY26, payable 1 October 2026 to shareholders on the register at 8 September 2026
On-market buyback of up to $50m approved over the next 12 months, representing less than 3% of shares on issue
Closed FY26 with $454m of cash, bullion and listed investments, which comfortably funds both initiatives while leaving capacity for organic growth spend
Alkane's share price made gains the day of the result as is up a further 5% since then.
