Insider Trades: Two beaten-down ASX small caps with big insider buys
LiveHire and APM Human Services shares are down sharply but insiders are buying.
Source: iStock
Mentioned
KEY POINTS
- Megan Wynne, founder and executive chairman of APM Human Services, has been actively buying shares since March 2023
- LiveHire CEO Christy Forest bought $674,641 worth of shares on November 17
- Both shares are down more than 35% year-to-date
Welcome back to the Insider Trades Series – A summary of on-market director transactions valued at more than $10,000 for small-to-mid cap ASX companies between 15-21 November.
ASX Insider Trades above $50,000
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
APM Human Services | 15/11/23 | Buy | $1.51 | $2,259,882 | ||
APM Human Services | 16/11/23 | Buy | $1.54 | $1,697,140 | ||
Livehire | 17/11/23 | Buy | $0.04 | $674,641 | ||
Sezzle | 15/11/23 | Buy | $17.10 | $443,266 | ||
Sezzle | 16/11/23 | Buy | $16.35 | $187,926 | ||
Maggie Beer | 15/11/23 | Buy | $0.09 | $149,491 | ||
Maggie Beer | 16/11/23 | Buy | $0.09 | $84,999 | ||
Wotso Property | 15/11/23 | Buy | $1.12 | $80,941 | ||
OFX Group | 15/11/23 | Buy | $1.44 | $71,957 |
APM Human Services (ASX: APM) founder and executive chairman Megan Wynne has been actively accumulating shares since March 2023.
Date | Director | Type | Amount | Price | Value |
|---|---|---|---|---|---|
16/11/23 | Megan Wynne | Buy | 1,100,000 | $1.54 | $1,697,140 |
15/11/23 | Megan Wynne | Buy | 1,500,000 | $1.51 | $2,259,882 |
18/09/23 | Michael Anghie | Buy | 500,000 | $1.87 | $935,000 |
14/09/23 | Megan Wynne | Buy | 550,000 | $1.77 | $970,750 |
5/09/23 | Megan Wynne | Buy | 1,100,000 | $1.81 | $1,988,250 |
1/09/23 | Robert (Bob) Melia | Buy | 89,700 | $1.80 | $161,818 |
30/08/23 | Robert (Bob) Melia | Buy | 10,300 | $1.84 | $18,921 |
3/03/23 | Megan Wynne | Buy | 845,000 | $2.35 | $1,985,224 |
Shares in the global health and workplace services provider sold off almost 40% between 9-14 November after the company issued a downbeat FY24 outlook at its AGM.
Strong revenue growth in the first half of FY24
But first half FY24 earnings to be lower than the first half of FY23
Stronger earnings in the second half versus the first half
FY24 cash conversion to be in line with the long-run average
Bell Potter downgraded the stock to HOLD from Buy with a $1.90 target price (previously $2.21) on 10 November.
"This is a disappointing AGM statement from the company pointing to lower H1 FY24 earnings vs H1 FY23 due to lower volumes in employment, as well as interest costs and higher tax rates," the analysts said.
"This profit downgrade will test shareholders patience, and while there may be a good medium-term story and supportive valuation, we believe the shares are likely to remain weak until there is a clearer path to improvement."
LiveHire (ASX: LVH) is a cloud-based talent management platform. Its shares are down around 68% year-to-date amid a broad range of headwinds including management changes, underwhelming revenue growth and increased competition.
The LiveHire CEO decided to hit the buy button on 17 November, buying $674,641 shares on-market or approximately 5% of the company's shares on issue. LiveHire shares finished that session up 24% to 5.8 cents.
Other Top ASX Insider Trades
Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
AVA Risk Group | 17/11/23 | Buy | $0.18 | $48,962 | ||
Lodestar Minerals | 17/11/23 | Sell | $0.00 | $43,750 | ||
Trek Metals | 15/11/23 | Buy | $0.05 | $39,379 | ||
James Bay Minerals | 21/11/23 | Buy | $0.39 | $37,917 | ||
Mitchell Services | 15/11/23 | Buy | $0.35 | $35,000 | ||
QV Equities | 15/11/23 | Buy | $0.87 | $34,965 | ||
Sky Network Television | 15/11/23 | Buy | $2.72 | $27,189 | ||
The Star Entertainment | 21/11/23 | Buy | $0.56 | $19,911 | ||
Iltani Resources | 20/11/23 | Buy | $0.17 | $10,862 | ||
Australian Agricultural Projects | 17/11/23 | Buy | $0.02 | $10,519 | ||
Po Valley Energy | 20/11/23 | Buy | $0.04 | $10,300 | ||
James Bay Minerals | 21/11/23 | Buy | $0.38 | $10,098 |
