Insider Trades: Directors are buying and selling these 6 ASX 200 stocks
Wisetech's founder Richard White and co-founder Maree Isaacs offloaded another $38 million worth of shares last week.
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Mentioned
KEY POINTS
- Wisetech's founder Richard White and co-founder Maree Isaacs offloaded another $38 million worth of shares last week
- Eagers Automotive's largest shareholder continues to actively buy on-market, amassing $42.8 million worth of shares over the past nine years
- Non-Executive Directors from Jumbo Interactive take a bite. The company recently reaffirmed its full-year guidance
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 3 and 7 June 2024. Directors have up to 5 business days to notify the ASX of their trades.
Top ASX 200 Director Sells
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Wisetech Global | 6/06/24 | Sell | $96.81 | $34,852,277 | ||
Wisetech Global | 6/06/24 | Sell | $96.81 | $3,099,468 | ||
Magellan Financial Group | 7/06/24 | Sell | $8.52 | $544,517 |
A deep dive into Wisetech selldowns: Founder Richard White and co-founder Maree Isaacs have been actively selling shares since 2020. During this time, the two have sold a collective $789.9 million worth of shares across 139 transactions.
Here's a breakdown of each year and the percentage weighting:
2024-to-date: $218 million (25.9%)
2023: $22.7 million (2.7%)
2022: $198.5 million (23.5%)
2021: $193.2 million (21.7%)
2020: $167.1 million (19.8%)
Wisetech shares are up around 320% since 2020. The only year where the stock logged a negative return was in 2022, where it fell 13.4%.
Top ASX 200 Insider Buys
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Eagers Automotive | 5/06/24 | Buy | $10.05 | $200,950 | ||
Lendlease | 3/06/24 | Buy | $5.94 | $178,050 | ||
Karoon Energy | 3/06/24 | Buy | $1.80 | $120,168 | ||
Jumbo Interactive | 3/06/24 | Buy | $16.06 | $48,180 | ||
Jumbo Interactive | 5/06/24 | Buy | $16.04 | $16,040 | ||
Jumbo Interactive | 4/06/24 | Buy | $16.03 | $8,015 |
Eagers Automotive experienced a 15% single-day selloff last month after a trading update flagged expectations that first-half FY24 earnings will be around 85% of the prior period. The stock is now down 30% since March and trading at its lowest level since July 2022.
Non-Executive Director Nicholas Politis is the company's largest shareholder and has a fairly consistent track record of buying shares on-market. Since 2015, Mr Politis has purchased 4,379,399 shares ($42.8 million) at a weighted average cost of $10.18.
Non-Executive Directors from Jumbo Interactive have logged a few purchases in the past week. The company announced a three-year software license agreement with RSPCA last month, which is expected to generate $10 million in annual ticket sales.
"We also see scope to materially grow the RSPCA revenue pool over time. It is a strong brand with high awareness and passionate supporters," Morgan Stanley said in a note last month. The analysts were OVERWEIGHT on the stock with a $20.80 target price.
In the same month, Jumbo issued a trading update, which outlined:
Financial year-to-date revenue of $100.5 million vs. $72.6 million a year ago
Total transaction value of $444.4 million vs. $365.7 million a year ago
Reaffirmed full-year guidance, with underlying EBITDA margin of 48-50%
