Insider Trades: Directors are buying shares in these 12 ASX 200 companies
Harvey Norman's founder continues to hoard shares and some timely dip buying from various directors.
Source: iStock
Mentioned
KEY POINTS
- Harvey Norman CEO and co-founder Gerry Harvey has purchased $76.5m worth of shares this month
- Timely dip buying from Siteminder, Appen, Metcash and Nufarm directors
A summary of S&P/ASX 200 director transactions worth over $10,000 between 20-29 March.
Top ASX 200 insider buys
Code | Company | Date | Director | Type | Price | Value | Notes |
|---|---|---|---|---|---|---|---|
Harvey Norman | 20/3/23 | Gerald Harvey | Buy | $3.70 | $3,496,972 | On-market trade | |
Harvey Norman | 27/3/23 | Gerald Harvey | Buy | $3.70 | $1,497,811 | On-market trade | |
Harvey Norman | 24/3/23 | Gerald Harvey | Buy | $3.71 | $1,000,889 | On-market trade | |
Harvey Norman | 23/3/23 | Gerald Harvey | Buy | $3.72 | $1,000,841 | On-market trade | |
Harvey Norman | 22/3/23 | Gerald Harvey | Buy | $3.75 | $1,000,529 | On-market trade | |
Harvey Norman | 21/3/23 | Gerald Harvey | Buy | $3.72 | $993,560 | On-market trade | |
Siteminder | 23/3/23 | Leslie Szekely | Buy | $3.00 | $150,000 | On-market trade | |
Appen | 20/3/23 | Stuart Davis | Buy | $2.53 | $123,970 | On-market trade | |
Metcash | 24/3/23 | Christine Holman | Buy | $3.78 | $94,439 | On-market trade | |
Nufarm | 20/3/23 | Gregory Hunt | Buy | $5.32 | $80,395 | On-market trade | |
Scentre Group | 20/3/23 | Michael Wilkins | Buy | $2.82 | $70,500 | On-market trade | |
Qualitas | 21/3/23 | JoAnne Stephenson | Buy | $2.52 | $50,400 | On-market trade | |
Downer | 21/3/23 | Teresa Handicott | Buy | $3.41 | $30,349 | On-market trade | |
The Star | 20/3/23 | Michael Issenberg | Buy | $1.45 | $29,000 | On-market trade | |
G.U.D. Holdings | 21/3/23 | Carole Campbell | Buy | $8.26 | $19,006 | On-market trade | |
Lifestyle Communities | 20/3/23 | Claire Hatton | Buy | $15.05 | $15,050 | On-market trade | |
Commonwealth Bank | 21/3/23 | Julie Galbo | Buy | $96.90 | $12,597 | On-market trade | |
G.U.D. Holdings | 21/3/23 | David Robinson | Buy | $8.26 | $11,401 | On-market trade |
Interesting observations
Harvey Norman: The man does not stop
Harvey Norman co-founder and executive chairman Gerry Harvey has been on one of the most intense buying sprees I’ve ever seen. Here’s a summary of his purchases this month:
March 1-3: $8.0m
March 6-10 : $14.9m
March 13-17: $44.6m
March 20-24: $7.5m
March 27-28: $1.5m
He purchased about $76.5 million in March at a weighted average of $3.79 per share, which is marginally below Tuesday’s close of $3.72.
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Harvey Norman 12-month price chart
Siteminder: Dip buying
Between 9-23 March, Siteminder shares tanked around 23% from $3.90 to year-to-date lows of around $3.00. This weakness was exacerbated by the Silicon Valley Bank failure – where the company had ‘up to $10 million’ of cash holdings and an undrawn US$20 million revolving credit facility with the bank.
Siteminder Director and early angel investor Leslie Szekely purchased a timely $150,000 parcel on 23 March at $3.00 per share.
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Siteminder 3-month price chart
Appen, Metcash and Nufarm: More timely dip buying
The ASX 200 is up around 1.7% from its March 20 low and US markets have been relatively buoyant thanks to the outperformance of mega cap tech stocks.
Appen, Metcash and Nufarm director transactions reflect more well-timed purchases around recent lows, with all three purchases currently up around 3-5%.
In the case of Appen, its last director transaction (before the one from this week) was on 8 March 2022. During this time, the stock has tumbled around 61.4%. Could this purchase be a symbol that the worst is behind the embattled tech company?
