Director Transactions

Insider Trades: These 5 ASX 200 insiders bought into recent share price weakness

Thu 23 Nov 23, 1:03pm (AEDT)
Office building towers
Source: Shutterstock

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

RHC

Ramsay Health Care

16/11/23

David Thodey

Buy

$52.63

$210,509

AKE

Allkem

16/11/23

Fernando de Roa

Buy

$9.11

$145,767

XRO

Xero

16/11/23

Steven Aldrich

Buy

$101.80

$142,520

CGF

Challenger

16/11/23

Duncan West

Buy

$5.86

$102,550

AKE

Allkem

17/11/23

Peter Coleman

Buy

$8.67

$99,670

RHC

Ramsay Health Care

15/11/23

Karen Penrose

Buy

$52.59

$34,972

JIN

Jumbo Interactive

17/11/23

Giovanni Rizzo

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.

RHC
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.

AKE
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.

XRO
Xero 6-month price chart (Source: Market Index)

Top ASX 200 Director Sells

Code

Company

Date

Director

Type

Price

Value

PME

Pro Medicus

21/11/23

Anthony Hall

Sell

$88.02

$88,020,000

PME

Pro Medicus

21/11/23

Sam Hupert

Sell

$88.02

$88,020,000

LYC

Lynas Rare Earths

15/11/23

Amanda Lacaze

Sell

$7.04

$7,041,685

VEA

Viva Energy

16/11/23

Scott Wyatt

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.

PME
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.

Rare earth price
Source: Morgan Stanley

 

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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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