Director Transactions

Insider Trades: Directors sold shares in these 4 ASX 200 companies last week

Thu 11 May 23, 4:31pm (AEST)
Bear Market - A graph showing large selling of global stock markets
Source: iStock

Key Points

  • Mincor directors continue to sell shares ahead of a likely takeover
  • Viva Energy boss sold $1.53m worth of shares but how did the stock perform in previous selldowns
  • Dicker Data management have bought shares seven times in the past two months

Welcome back to the Insider Trades series, a summary of director transactions that have taken place between 1-5 May worth more than $10,000.


Top Insider Transactions

Code

Company

Date

Director

Type

Price

Value

Notes

MCR

Mincor Resources 

3/05/23

Gabrielle Iwanow

Sell

$1.40

$1,677,755

On-market trade

VEA

Viva Energy

4/05/23

Scott Wyatt

Sell

$3.05

$1,525,128

On-market trade

MIN

Mineral Resources

1/05/23

Kelvin Flynn

Sell

$72.94

$381,521

On-market trade

DDR

Dicker Data 

4/05/23

Vladimir Mitnovetski

Buy

$7.90

$158,000

On-market trade

PPK

PPK Group 

4/05/23

Glenn Molloy

Buy

$1.29

$128,316

On-market trade

NST

Northern Star 

3/05/23

Nicholas Cernotta

Sell

$14.01

$119,113

On-market trade

AGL

AGL Energy 

5/05/23

Mark Twidell

Buy

$8.85

$66,375

On-market trade

IEL

Idp Education 

4/05/23

Michelle Tredenick

Buy

$26.46

$66,154

On-market trade

CGF

Challenger 

1/05/23

Heather Smith

Buy

$6.17

$61,689

On-market trade

VEA

Viva Energy

5/05/23

Robert Hill

Buy

$3.02

$60,398

On-market trade

RHC

Ramsay Health Care 

5/05/23

Karen Penrose

Buy

$60.73

$49,922

On-market trade

OML

Ooh!Media 

3/05/23

Joanne Pollard

Buy

$1.25

$19,960

On-market trade


Interesting Insights

Offloading before a takeover: Mincor is likely to get taken over by Wyloo Metals (Wyloo already has a 61.6% stake in Mincor and the Board has advised shareholders to accept the offer) at $1.40 per share. Five director transactions worth a collective ~$3.5 million have taken place over the past two weeks, which might suggest “hey let’s offload some shares as we might not get a better offer.”

Mincor Resources NL (ASX MCR) Share Price - Market Index
Mincor 12-month price chart (Source: Market Index)

Is Viva past its prime: “Whilst VEA continues to perform strongly in Commercial & Retail, we note Refining margins are the largest swing factor for earnings – and these margins have been falling in April,” Macquarie said in a note on 26 April. Though, the broker retained an Outperform rating with a $3.60 target price. Viva CEO Scott Wyatt sold $1.53 million worth of shares last week but at the same time, his prior sells (shown on chart) flag rather mixed signals. 

VEA insider
Viva price chart – Red circles indicate Wyatt selling  (Source: TradingView)

MinRes’ first insider trade in 2023: Independent Non-Executive Director Kelvin Flynn sold $381,500 worth of shares last week, marking the first insider buy since September 2022. MinRes hasn’t attracted much insider activity in the last 3-4 years so we’ll leave this one to your imagination.

Mineral Resources Ltd (ASX MIN) Share Price - Market Index
MinRes 12-month price chart (Source: Market Index)

Potential PC sales recovery: Dicker Data shares are down around 15% year-to-date, reflecting a gloomy outlook for company hardware and software demand. Though, we’ve seen some encouraging commentary from major US companies like Intel, which said “we are seeing increasing stability in the PC market with inventory corrections, largely proceeding as we had expected. However, the server and networking markets have yet to reach their bottoms as cloud and enterprise remain weak.” Most of Dicker Data’s selloff occurred at the beginning of the year and the stock has been trading sideways since March. Directors have purchased shares on seven occasions since late February, with a collective ~$620,000.

Dicker Data Ltd (ASX DDR) Share Price - Market Index
Dicker Data 12-month price chart (Source: Market Index)

 

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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