Insider Trades: Directors sold shares in these 4 ASX 200 companies last week
Mincor, Viva Energy, MinRes and Northern Star directors have been selling shares in the past week.
Source: iStock
Mentioned
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 |
|---|---|---|---|---|---|---|---|
Mincor Resources | 3/05/23 | Gabrielle Iwanow | Sell | $1.40 | $1,677,755 | On-market trade | |
Viva Energy | 4/05/23 | Scott Wyatt | Sell | $3.05 | $1,525,128 | On-market trade | |
Mineral Resources | 1/05/23 | Kelvin Flynn | Sell | $72.94 | $381,521 | On-market trade | |
Dicker Data | 4/05/23 | Vladimir Mitnovetski | Buy | $7.90 | $158,000 | On-market trade | |
PPK Group | 4/05/23 | Glenn Molloy | Buy | $1.29 | $128,316 | On-market trade | |
Northern Star | 3/05/23 | Nicholas Cernotta | Sell | $14.01 | $119,113 | On-market trade | |
AGL Energy | 5/05/23 | Mark Twidell | Buy | $8.85 | $66,375 | On-market trade | |
Idp Education | 4/05/23 | Michelle Tredenick | Buy | $26.46 | $66,154 | On-market trade | |
Challenger | 1/05/23 | Heather Smith | Buy | $6.17 | $61,689 | On-market trade | |
Viva Energy | 5/05/23 | Robert Hill | Buy | $3.02 | $60,398 | On-market trade | |
Ramsay Health Care | 5/05/23 | Karen Penrose | Buy | $60.73 | $49,922 | On-market trade | |
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.”
%20Share%20Price%20-%20Market%20Index.png)
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.
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.
%20Share%20Price%20-%20Market%20Index.png)
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.
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Dicker Data 12-month price chart (Source: Market Index)
