Insider Trades: These 5 ASX 200 insiders bought into recent share price weakness
Non-Executive Directors from Ramsay, Allkem and Xero are buying into recent share price weakness
Source: Shutterstock
Mentioned
KEY POINTS
- Non-Executive Directors from Ramsay Health Care, Allkem and Xero are buying into recent share price weakness
- Ramsay Health Care shares are trading near nine-year lows, Allkem shares have almost halved since July, and Xero shares tumbled 12.4% on November 9
- Pro Medicus founders sold $176 million worth of shares after an individual fund offered to buy shares on-market at no discount
Welcome back to the Insider Trades Series – A summary of on-market ASX 200 director transactions between 15-23 November, valued at more than $10,000.
Top ASX 200 Director Buys
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Ramsay Health Care | 16/11/23 | Buy | $52.63 | $210,509 | ||
Allkem | 16/11/23 | Buy | $9.11 | $145,767 | ||
Xero | 16/11/23 | Buy | $101.80 | $142,520 | ||
Challenger | 16/11/23 | Buy | $5.86 | $102,550 | ||
Allkem | 17/11/23 | Buy | $8.67 | $99,670 | ||
Ramsay Health Care | 15/11/23 | Buy | $52.59 | $34,972 | ||
Jumbo Interactive | 17/11/23 | Buy | $14.02 | $28,040 |
All the above transactions are from Non-Executive Directors buying into recent share price weakness.
Ramsay Healthcare (ASX: RHC) shares are trading near nine-year lows. The company's FY23 results (24 August) flagged margin and profit pressures as inflationary pressures and higher interest costs weighed.
Ramsay Healthcare 12-month price chart (Source: Market Index)
Allkem (ASX: AKE) shares have almost halved since July. China's lithium carbonate spot prices fell for a 24th straight session on Wednesday to a fresh two-year low of 140,000 yuan a tonne.
Allkem 12-month price chart (Source: Market Index)
Xero (ASX: XRO) shares tumbled 12.4% on November 9 after its first-half result came in marginally below expectations. The company flagged slower-than-expected subscriber from in North America and the UK.
Xero 6-month price chart (Source: Market Index)
Top ASX 200 Director Sells
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
Pro Medicus | 21/11/23 | Sell | $88.02 | $88,020,000 | ||
Pro Medicus | 21/11/23 | Sell | $88.02 | $88,020,000 | ||
Lynas Rare Earths | 15/11/23 | Sell | $7.04 | $7,041,685 | ||
Viva Energy | 16/11/23 | Sell | $3.00 | $1,273,703 |
Pro Medicus (ASX: PME) founders Anthony Hall and Sam Hupert collectively sold $176 million on-market on Tuesday for one of the most bullish reasons I've ever seen. "The sale was in response to a strong approach from an individual fund and was done before market at the previous day’s closing price," the company said in a statement. Instead of selling off, the stock has remained relatively stable around all-time highs of $88 a share.
Pro Medicus 12-month price chart (Source: Market Index)
Lynas (ASX: LYC) CEO Amazon Lacaze was issued approximately $3 million worth of shares under the company's employee incentive scheme. Her sale of $7 million worth of shares marks the first insider sell since September 2022. Chinese NdPr prices remain near 3 year lows despite the recent bounce.
Source: Morgan Stanley
