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See notes below for why you should follow directors transactions
Latest director's on-market share Sales
|FASTBRICK ROBOTICS LTD (FBR)||Mark Pivac||14 Jul 17||-1,548,000||$0.177||$274,573|
|CONSOLIDATED ZINC LIMITED (CZL)||Stephen Copulos||30 Jun 17||-104,467,147||$0.012||$1,253,606|
|INNATE IMMUNOTHERAPEUTICS LIMITED (IIL)||Michael Quinn||29 Jun 17||-2,011,614||$0.054||$109,432|
|SILVER CHEF LIMITED (SIV)||Allan English||28 Jun 17||-81,605||$7.201||$587,651|
|HUB24 LIMITED (HUB)||Andrew Alcock||19 Jun 17||-28,400||$5.950||$168,980|
|SCENTRE GROUP (SCG)||Peter Allen||15 Jun 17||-480,000||$4.320||$2,073,600|
|SEEK LIMITED (SEK)||Andrew Bassat||01 Jun 17||-500,000||$17.216||$8,608,150|
|OVER THE WIRE HOLDINGS LIMITED (OTW)||Brent Paddon||31 May 17||-207,115||$2.000||$414,230|
|MELBOURNE IT LIMITED (MLB)||Larry Bloch||31 May 17||-250,000||$2.540||$635,000|
|CTI LOGISTICS LIMITED (CLX)||David Watson||29 May 17||-2,185,968||$0.750||$1,639,476|
|CTI LOGISTICS LIMITED (CLX)||David Mellor||29 May 17||-1,470,317||$0.750||$1,102,738|
|CTI LOGISTICS LIMITED (CLX)||Bruce Saxild||29 May 17||-1,470,317||$0.750||$1,102,738|
|INVOCARE LIMITED (IVC)||Richard Davis||29 May 17||-40,000||$14.993||$599,722|
|ALUMINA LIMITED (AWC)||Peter Wasow||25 May 17||-355,838||$1.884||$670,451|
|GOODMAN GROUP (GMG)||Anthony Rozic||24 May 17||-72,500||$8.434||$611,500|
|GOODMAN PLUS TRUST (GMP)||Anthony Rozic||24 May 17||-72,500||$8.434||$611,500|
|HUON AQUACULTURE GROUP LIMITED (HUO)||Peter Bender||23 May 17||-1,750,000||$5.000||$8,750,000|
|AFTERPAY HOLDINGS LIMITED (AFY)||David Hancock||22 May 17||-100,000||$2.460||$246,000|
|ELDERS LIMITED (ELD)||James Jackson||17 May 17||-27,500||$4.489||$123,455|
|BORAL LIMITED. (BLD)||Mike Kane||17 May 17||-371,334||$6.680||$2,480,437|
Our website shows:
the last 20 transactions reported through ASX (as above). Very small transactions are ignored.
the last five on-market share dealings by directors on a company-by-company basis. (find these by searching on the company)
Directors buying - what does it mean?
A director buying is probably a better indicator of a potential rise in value than a sale is of a potential fall in value. It is hard to imagine a director buying a significant parcel of shares on-market in the knowledge that they may lose value. Rather, they think the stock is undervalued and they expect it to go up. The bigger the purchase, the better the indication, and more so if it adds to an already large holding.
Directors selling - not so critical
A sale should not necessarily be cause for alarm as there are any number of good reasons for a director to sell. They may wish to diversify their holdings, buy their spouse a car, pay off a mortgage or purchase a home.
Having said that, we are wary when an individual director, or a number of directors, are selling down over a period of time. That may be an indication of a potential fall in value. Sales by directors where key executives are departing the company are another thing to watch for. We also often see a greater number of director sales when a stock looks expensive.
How to respond to the buying and selling
On balance it is preferable to see a director buying rather than selling shares on-market.
But there is no hard evidence (to our knowledge) that suggests you should blindly follow directors' share transactions. Watch for patterns. Look at the circumstances. Does the stock look cheap and may that be the reason for a buy. Conversely are directors selling a bit more often when a stock appears to be expensive?
We carry these transactions for the purpose of serving as a guide to buying or selling your own shares. But remember there are other very significant indicators such as a good record of earnings, solid balance sheet, company prospects, competent management etc, etc.
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