Insider Trades: 7 AGL directors buy the dip as shares tumble on half-year results

A summary of the top director transactions for ASX 200 companies between 6-17 February.

12 Large Cap Insider Moves by Value

Stocks of Interest

AGL Energy: Directors loading up

Seven separate AGL directors have purchased a collective $546,000 in shares following the company's half-year result on February 9th. Their roles include:

• Non-executive directors: Mark Bloom, John Pollaers, Christine Holman, Miles George

• Chief Executive Officer: Damien Nicks

• Director: Patricia McKenzie

The result itself was far from impressive, with underlying net profits down 55%, to $87 million and a statutory loss of more than $1bn thanks to extended outages at its Loy Yang and Hunter Valley power plants.

The general consensus among brokers is that the company will see earnings more than double by FY24 as tariffs pass-through to higher electricity prices.

Among 14 sell-side ratings, 50% are Buy, 36% Hold and 14% Sell. The average target price fell -7% post earnings, to $8.11.

Seven Group: Post earnings buying

Seven posted a well-rounded half-year FY23 result with revenue up 16% to $4.61bn, adjusted EBITDA up 12% to $842m and guided to low to mid-teen EBIT growth for the full year. The stock was up almost 50% from last September lows, so after such an outsized move, results day was rather volatile:

• Session high: +5.3%

• Session low: -3.4%

• Close: +1.3%

Nevertheless, Director Rachel Argaman purchased a ~$157,000 lot of shares the following day.

Syrah Resources: CEO sells for tax obligations

Syrah Resources notes that "Mr Verner has sold 220,000 shares to meet personal tax obligations, and subsequent to the sale continues to hold 1,209,274 shares and 4,738,632 performance rights (directly and indirectly)."

Syrah shares are down around 6.5% since the sale, in parallel with a broad-based pullback for equity markets.