Director Transactions

Insider Trades: Directors are buying and selling these 6 ASX 200 stocks

Wed 12 Jun 24, 12:01pm (AEST)
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Source: Shutterstock

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

WTC

Wisetech Global

6/06/24

Richard White

Sell

$96.81

$34,852,277

WTC

Wisetech Global

6/06/24

Maree Isaacs

Sell

$96.81

$3,099,468

MFG

Magellan Financial Group

7/06/24

Hamish McLennan

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

APE

Eagers Automotive

5/06/24

Nicholas Politis

Buy

$10.05

$200,950

LLC

Lendlease

3/06/24

David Craig

Buy

$5.94

$178,050

KAR

Karoon Energy

3/06/24

Peter Botten

Buy

$1.80

$120,168

JIN

Jumbo Interactive

3/06/24

Giovanni Rizzo

Buy

$16.06

$48,180

JIN

Jumbo Interactive

5/06/24

Sharon Christensen

Buy

$16.04

$16,040

JIN

Jumbo Interactive

4/06/24

Giovanni Rizzo

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%

 

Written By

Kerry Sun

Content Strategist

Kerry holds a Bachelor of Commerce from Monash University. He is an avid swing trader, focused on technical set ups and breakouts. Outside of writing and trading, Kerry is a big UFC fan, loves poker and training Muay Thai. Connect via LinkedIn or email.

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