Insider Trades: Directors are buying shares in these 6 ASX 200 companies
Seven insider trades worth a combined $1.33 million have taken place for New Hope in the past week.
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Mentioned
KEY POINTS
- New Hope has seen substantial insider buying worth a combined $1.33 million over the past week, includes trades from Non-Executive Chairman Robert Millner and Non-Executive Director Thomas Millner
- Transurban has seen its first insider buying in 11 months while the stock is down around 15% from its high in April
- A non-executive director from Paladin Energy buys a parcel amid the recent surge in uranium stocks
Welcome back to the Insider Trades Series – A summary of on-market ASX 200 director transactions valued at more than $10,000 between 18 and 22 September 2023.
New Hope: A Flurry of Buys
Code | Company | Date | Director | Type | Price | Value | Notes |
|---|---|---|---|---|---|---|---|
New Hope Corporation | 22/09/23 | Buy | $6.06 | $302,770 | On-market trade | ||
New Hope Corporation | 22/09/23 | Buy | $6.06 | $302,770 | On-market trade | ||
New Hope Corporation | 22/09/23 | Buy | $5.98 | $299,005 | On-market trade | ||
New Hope Corporation | 22/09/23 | Buy | $5.98 | $299,005 | On-market trade | ||
New Hope Corporation | 20/09/23 | Buy | $6.16 | $61,600 | On-market trade | ||
New Hope Corporation | 22/09/23 | Buy | $5.95 | $59,500 | On-market trade |
Seven insider trades worth a combined $1.33 million have taken place for New Hope (ASX: NHC) in the past week. These trades have come from:
Non-Executive Chairman Robert Millner
Non-Executive Director Thomas Millner
Non-Executive Director Ian Williams
Non-Executive Director Steven Boulton
The most notable trade comes from Robert Millner, the Non-Executive Chairman of Washington H. Soul Pattinson (ASX: SOL) – Which owns approximately 37.6% of New Hope.
There was a flurry of buys from Robert Miller and Thomas Millner back in April this year, when the stock was trading around the $5.50 level. These positions would be up around 15% based on Thursday's open.
Date | Director | Type | Amount | Price | Value |
|---|---|---|---|---|---|
28/04/23 | Thomas Millner | Buy | 100,000 | $5.54 | $554,200 |
28/04/23 | Robert Millner | Buy | 100,000 | $5.54 | $554,200 |
27/04/23 | Lucia Stocker | Buy | 9,500 | $5.23 | $49,685 |
6/04/23 | Thomas Millner | Buy | 100,000 | $5.65 | $565,290 |
6/04/23 | Robert Millner | Buy | 100,000 | $5.65 | $565,290 |
30/03/23 | Thomas Millner | Buy | 300,000 | $5.52 | $1,655,109 |
30/03/23 | Robert Millner | Buy | 300,000 | $5.52 | $1,655,109 |
30/03/23 | Jacqueline McGill | Buy | 10,000 | $5.41 | $54,100 |
Transurban: First Insider Buys in 11 Months
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Transurban Group | 21/09/23 | Buy | $12.70 | $127,000 | ||
Transurban Group | 21/09/23 | Buy | $12.70 | $49,999 | ||
Transurban Group | 21/09/23 | Buy | $12.71 | $50,820 |
These insider trades are breaking a bit of a dry spell for Transurban (ASX: TCL). The last time directors bought shares was back in October 2022.
Shares in the toll road operator is down around 15% from its 26 April high. During this time, the US 10-year Treasury yield rallied 108 bps to a 16-year high of 4.61%. Higher yields tend to weigh on interest rate sensitive sectors such as real estate, industrials and utilities.
Goldman Sachs says the story remains fundamentally unchanged, reiterating an Outperform rating and $13.97 target price earlier this month.
"TCL remains a high-quality defensive benefiting from population growth (1.5-2.0%) and has the road capacity to capture that growth. Combined with the openings, cashflow would grow at ~6.6% pa and dividend at 4.3% pa for the next five years," the analysts said.
Could insiders be nibbling with the view that the stock is undervalued?
Other Top Insider Trades
Code | Company | Date | Director | Type | Price | Value | Notes |
|---|---|---|---|---|---|---|---|
Paladin Energy | 20/09/23 | Buy | $0.98 | $97,500 | On-market trade | ||
Webjet | 19/09/23 | Buy | $6.85 | $74,911 | On-market trade | ||
Qualitas | 18/09/23 | Sell | $1.62 | $64,800 | On-market trade | ||
AGL Energy | 20/09/23 | Buy | $10.70 | $53,500 | On-market trade | ||
Altium | 20/09/23 | Buy | $44.38 | $44,384 | On-market trade | ||
AGL Energy | 21/09/23 | Buy | $10.73 | $32,190 | On-market trade | ||
Steadfast Group | 18/09/23 | Buy | $5.40 | $27,000 | On-market trade | ||
AGL Energy | 20/09/23 | Buy | $10.69 | $21,380 | On-market trade | ||
The Lottery Corp | 19/09/23 | Buy | $4.72 | $47,240 | On-market trade |
Uranium stocks have soared in recent weeks as spot prices topped US$70 a pound for the first time since the Fukushima disaster in 2011.
Even though stock charts are going vertical, a non-executive director from Paladin Energy (ASX: PDN) doesn't mind fronting up the premium. And that trade would've worked out well as Paladin Energy shares are up more than 10% since the buy last week.
