Insider Trades: Directors are selling shares in these 4 ASX 200 companies
Insiders from reporting season winners like Wisetech and Audinate are selling into strength.
Source: iStock
Mentioned
KEY POINTS
- A Wisetech Non-Executive Director sold almost $600,000 worth of shares, marking the first insider sell since June 2023
- Audinate's Chief Executive Aidan Williams and Non-Exec John Dyson have sold almost $2 million worth of shares this month
- Dicker Data's COO and CIO are buying into recent weakness
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 12 and 7 March 2024. Directors have up to 5 business days to notify the ASX of their trades.
Selldowns from Reporting Season Winners
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Wisetech Global | 8/03/24 | Sell | $95.18 | $599,538 | ||
Audinate Group | 7/03/24 | Sell | $21.65 | $497,853 | ||
Nib Holdings | 12/03/24 | Sell | $7.92 | $277,018 | ||
Champion Iron | 7/03/24 | Sell | $6.98 | $261,731 | ||
Audinate Group | 7/03/24 | Sell | $21.76 | $124,894 |
Wisetech Non-Executive Director Teresa Engelhard offloaded almost $600,000 worth of shares earlier this month. This marks the first insider sell since June 2023. Wisetech shares rallied 29% in February after the company's first-half FY24 results (announced 21 Feb) smashed analyst expectations. Here were some of the key numbers:
Revenue up 32% to $500.4 million or 1.0% ahead of consensus
Net profit after tax up 5% to $128.4 million or 24% ahead of consensus
Interim dividend of 7.7 cents per share compared to Citi expectations of 5.8 cents
Reaffirmed full-year revenue and EBITDA expectations
Upgraded EBITDA margin range to 44-46% due to the stronger-than-expected first half
Management said the integration of recent acquisitions is "also progressing well"
Wisetech 12-month price chart (Source: Market Index)
Audinate's Chief Executive Aidan Williams and Non-Executive Director John Dyson have sold a collective $1.96 million worth of shares since 1 March 2024. This divestment follows a 40% rally in February, largely propelled by the company's first-half FY24 results announced on 12 February, which significantly beat estimates across most key metrics. Audinate has a strong record of beating analyst expectations. Interestingly, insiders (notably Williams) have offloaded shares during three of the last four reporting seasons (Feb-22, Feb-23 and August-23).
Audinate 12-month price chart (Source: Market Index)
Dicker Data: C-Suite Buying
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Dicker Data | 11/03/24 | Buy | $10.94 | $76,550 | ||
Dicker Data | 11/03/24 | Buy | $10.70 | $53,500 |
Dicker Data shares tumbled 10.0% to a five-month low of $10.86 on 6 March after its co-founder, David Dicker, sold approximately 18.3 million shares. The selldown was conducted at a 9.5% discount to its last close and represents approximately 10.2% of the company's issued capital.
"The sale of shares is due to a recent divorce settlement and subsequent restructuring of David Dicker’s portfolio. He has entered into a 6-month escrow on his remaining shareholding," the company said in a statement.
Chief Operating Officer Vladimir Mitnovetski and Chief Information Officer Ian Welch have started to nibble around these levels.
Dicker Data 12-month price chart (Source: Market Index)
Top ASX 200 Director Buys
Note: All the below trades are from Non-Executive Directors.
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Cleanaway | 12/03/24 | Buy | $2.59 | $100,385 | ||
Charter Hall Group | 6/03/24 | Buy | $12.73 | $149,896 | ||
Lynas Rare Earths | 14/03/24 | Buy | $5.77 | $77,929 | ||
Evolution Mining | 11/03/24 | Buy | $3.30 | $36,085 | ||
Atlas Arteria | 7/03/24 | Buy | $5.33 | $24,518 | ||
Rio Tinto | 6/03/24 | Buy | $120.97 | $14,879 |
