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The high-performing ASX stock flying under the radar
Fri 11 Oct 24, 11:23am (AEDT)
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Insider Trades: Santos and Bapcor CEOs bought and sold shares this week
By
Kerry Sun
Thu 14 Sep 23, 4:04pm (AEDT)
Source: File photo - Offshore installation in the middle of the ocean at sunset time
Stocks in article
Key Points
- Santos CEO Kevin Gallagher has a tendency to sell shares post earnings
- Bapcor insiders have been accumulating shares since February
Welcome back to the Insider Trades Series – A summary of on-market ASX 200 director trades valued at more than $10,000 between 6 and 11 September 2023.
Top Insider Trades
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Santos | 7/9/23 | Sell | $7.81 | $3,124,662 | ||
Santos | 8/9/23 | Sell | $7.76 | $1,552,624 | ||
Bapcor | 6/9/23 | Buy | $6.72 | $299,994 | ||
Goodman Group | 8/9/23 | Buy | $23.20 | $134,560 | ||
Growthpoint Properties | 6/9/23 | Buy | $2.45 | $120,050 | ||
AGL Energy | 7/9/23 | Buy | $10.84 | $99,210 | ||
Worley | 5/9/23 | Buy | $17.18 | $85,910 | ||
Reliance Worldwide | 6/9/23 | Buy | $4.02 | $52,260 | ||
Bapcor | 11/9/23 | Buy | $6.67 | $50,025 | ||
Downer Edi | 6/9/23 | Buy | $4.20 | $49,761 | ||
Reliance Worldwide | 12/9/23 | Buy | $3.86 | $46,437 | ||
Abacus Storage King | 11/9/23 | Buy | $1.20 | $39,999 |
Latest news, performance and charts
CEOs from Santos and Bapcor bought and sold shares in the past week. We capture some of the company’s latest announcements, share price performance and chart their transactions.
All other transactions on the above list were from non-executive directors.
Santos secured a US$576 million deal to sell its 2.6% interest in PNG LNG to Kumul Petroleum earlier this month. Macquarie analysts said “the removal of a key overhang is positive, and Santos can resume the path of deleveraging over the next 12 months, whilst also returning capital.”
Performance: Santos shares are up 9.2% year-to-date.
Who’s selling: Chief Executive Officer and Managing Director Kevin Gallagher.
How much are they holding: The sale of 600,000 shares leaves Mr Gallagher with 237,806 in direct interest (as well as 1.8 million indirect shares and 2.35 million options).
Something to note: Gallagher has the tendency to sell shares post earnings, evidenced by a $2.01 million sale back in February 2023 and $2.86 million sale back in February 2022.
Santos chart (Source: TradingView)
Bapcor shares rallied 5.5% on 16 August after handing down full-year results that were broadly in-line with analyst expectations. After trading sideways for about a month, the stock has continued its uptrend, rallying as much as 6.8% between 8-12 September.
Performance: Bapcor shares have rallied 10.7% in the past month and up 8% year-to-date, close to 18-month highs.
Who’s buying: Chief Executive Officer Noel Meehan and Non-Executive Director Brad Soller.
How much are they holding: Meehan did not have any direct holdings prior to last week’s buy (but has 125,847 indirect shares).
Lots of insiders were buying in Feb-March: Five different insiders (varying from CEO to non-executive directors) bought shares earlier this year. Each parcel was worth around $49,000 to $66,000.
Bapcor chart (Source: TradingView)
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