Insider Trades: Directors are buying shares in these 19 ASX companies
Noteworthy on-market director transactions that have taken place in the past week.
Source: iStock
Mentioned
KEY POINTS
- An Iress Non-Executive Director buys into recent share price strength
- Graincorp's CEO offloads $2 million worth of shares to fund tax obligations
- A struggling small cap director is aggressively accumulating shares. The stock trades at almost halve its net asset value
Welcome back to the Insider Trades Series – A summary of on-market director transactions valued at more than $10,000 that have taken place between 6-11 December 2023.
ASX 200 Director Buys
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Iress | 6/12/23 | Buy | $7.54 | $50,065 | ||
Nib Holdings | 8/12/23 | Buy | $7.45 | $23,497 |
A number of Non-Executive Iress directors have bought on-market in the past three months.
Date | Director | Type | Price | Value |
|---|---|---|---|---|
06/12/23 | Trudy Vonhoff | Buy | $7.54 | $50,065 |
04/09/23 | Michael Dwyer | Buy | $6.40 | $12,800 |
31/08/23 | Anthony Glenning | Buy | $6.47 | $99,993 |
31/08/23 | Roger Sharp | Buy | $6.45 | $199,775 |
31/08/23 | Marcus Price | Buy | $6.41 | $99,842 |
The stock is currently taking a bit of a breather after rallying almost 40% between November 29 and December 8 thanks to a guidance and strategy update which noted:
Full-year adjusted EBITDA to be between $123-128 million vs. prior guidance of $118-122 million
Second half revenue growth of 2.6% on first half, slightly ahead of prior expectations and cost base to be more favourable due to lower staff costs
Net debt reduced from $375 million as at 30 June 2023 to $308 million at 31 October 2023
ASX 200 Director Sells
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Graincorp | 8/12/23 | Sell | $7.47 | $1,999,771 |
Graincorp Managing Director and CEO Robert Spurway sold almost $2 million worth of shares to "fund taxation obligations in relation to the vesting of performance rights." The sale represents approximately 38% of its director and indirect holdings.
Earlier this month, the Australian Bureau of Agricultural and Resource Economics and Sciences published its December quarter agricultural overview and crop report. Some of its key data points include:
The value of agricultural production is forecast to fall by 17% to A$78bn in 2023-24
Expected drier conditions will cause crop production to fall from record levels in 2022-23
National winter crop production to fall from record highs in 2023-24 to 46.1m tonnes, slightly below the 10-year average
Crop prospects over spring have been mixed with improvements in southern cropping regions expected to more than offset downgrades in northern cropping regions
Notable Small Cap Buys
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Duxton Farms | 8/12/23 | Buy | $1.40 | $630,000 | ||
Lynch Group | 8/12/23 | Buy | $1.77 | $100,538 |
Duxton Farms Executive Chairman Edouard has been aggressively accumulating shares since late November.
Date | Director | Type | Price | Value |
|---|---|---|---|---|
08/12/23 | Edouard (Ed) Peter | Buy | $1.40 | $630,000 |
08/12/23 | Edouard (Ed) Peter | Buy | $1.40 | $15,512 |
04/12/23 | Edouard (Ed) Peter | Buy | $1.40 | $350,004 |
01/12/23 | Edouard (Ed) Peter | Buy | $1.40 | $317,293 |
30/11/23 | Edouard (Ed) Peter | Buy | $1.40 | $59,131 |
29/11/23 | Edouard (Ed) Peter | Buy | $1.40 | $95,635 |
Duxton Farms owns a portfolio of mixed farming properties and produces key agricultural staples including grains, oilseeds, fibers and livestock products. The 2022-23 season was flagged as "exceptionally challenging" as key regions such as Lachlan Valley in NSW experienced its worst flooding since 1952. The company's FY23 revenue more than halved to $7.3 million while losses increased to $10 million (from a $3.1 million loss in FY22).
Interestingly, the value of the company's land to water assets rose 10% in FY23, resulting in a fair value NAV per share of $2.72 – Almost double its current share price.
The Other Small Cap Trades
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Navigator Global Investments | 7/12/23 | Buy | $1.24 | $43,400 | ||
Ironbark Zinc | 11/12/23 | Buy | $0.01 | $43,254 | ||
COG Financial Services | 6/12/23 | Buy | $1.40 | $41,864 | ||
Basin Energy | 7/12/23 | Buy | $0.12 | $37,275 | ||
Taruga Minerals | 7/12/23 | Buy | $0.01 | $30,000 | ||
Fleetpartners Group | 6/12/23 | Buy | $2.91 | $29,967 | ||
Talisman Mining | 8/12/23 | Buy | $0.21 | $29,400 | ||
Intelligent Monitoring Group | 7/12/23 | Buy | $0.28 | $28,063 | ||
Clime Capital | 6/12/23 | Buy | $0.80 | $23,279 | ||
Vulcan Steel | 7/12/23 | Buy | $7.30 | $20,133 | ||
Clime Capital | 6/12/23 | Sell | $0.81 | $17,988 | ||
Zeotech | 6/12/23 | Buy | $0.04 | $17,015 | ||
Clover Corporation | 11/12/23 | Buy | $0.83 | $16,600 | ||
Duxton Farms | 8/12/23 | Buy | $1.40 | $15,512 | ||
Universal Biosensors | 11/12/23 | Buy | $0.20 | $14,901 | ||
Great Divide Mining | 11/12/23 | Buy | $0.29 | $14,499 | ||
Talius Group | 8/12/23 | Buy | $0.01 | $11,000 |
