TOL - 2nd Oct, 2023
Insider Trades: Directors are buying shares in these 6 ASX 200 companies
New Hope has seen $1.3 million in insider buying in the past week, includes trades from Non-Executive Chairman Robert Millner.
Welcome back to the Insider Trades Series – A summary of on-market ASX 200 director transactions valued at more than $10,000 between 18 and 22 September 2023.
New Hope: A Flurry of Buys
Code |
Company |
Date |
Director |
Type |
Price |
Value |
Notes |
|---|---|---|---|---|---|---|---|
New Hope Corporation |
22/09/23 |
Buy |
$6.06 |
$302,770 |
On-market trade |
||
New Hope Corporation |
22/09/23 |
Buy |
$6.06 |
$302,770 |
On-market trade |
||
New Hope Corporation |
22/09/23 |
Buy |
$5.98 |
$299,005 |
On-market trade |
||
New Hope Corporation |
22/09/23 |
Buy |
$5.98 |
$299,005 |
On-market trade |
||
New Hope Corporation |
20/09/23 |
Buy |
$6.16 |
$61,600 |
On-market trade |
||
New Hope Corporation |
22/09/23 |
Buy |
$5.95 |
$59,500 |
On-market trade |
Seven insider trades worth a combined $1.33 million have taken place for New Hope (ASX: NHC) in the past week. These trades have come from:
- Non-Executive Chairman Robert Millner
- Non-Executive Director Thomas Millner
- Non-Executive Director Ian Williams
- Non-Executive Director Steven Boulton
The most notable trade comes from Robert Millner, the Non-Executive Chairman of Washington H. Soul Pattinson (ASX: SOL) – Which owns approximately 37.6% of New Hope.
There was a flurry of buys from Robert Miller and Thomas Millner back in April this year, when the stock was trading around the $5.50 level. These positions would be up around 15% based on Thursday's open.
Date |
Director |
Type |
Amount |
Price |
Value |
|---|---|---|---|---|---|
28/04/23 |
Thomas Millner |
Buy |
100,000 |
$5.54 |
$554,200 |
28/04/23 |
Robert Millner |
Buy |
100,000 |
$5.54 |
$554,200 |
27/04/23 |
Lucia Stocker |
Buy |
9,500 |
$5.23 |
$49,685 |
6/04/23 |
Thomas Millner |
Buy |
100,000 |
$5.65 |
$565,290 |
6/04/23 |
Robert Millner |
Buy |
100,000 |
$5.65 |
$565,290 |
30/03/23 |
Thomas Millner |
Buy |
300,000 |
$5.52 |
$1,655,109 |
30/03/23 |
Robert Millner |
Buy |
300,000 |
$5.52 |
$1,655,109 |
30/03/23 |
Jacqueline McGill |
Buy |
10,000 |
$5.41 |
$54,100 |
Transurban: First Insider Buys in 11 Months
Code |
Company |
Date |
Director |
Type |
Price |
Value |
|---|---|---|---|---|---|---|
Transurban Group |
21/09/23 |
Buy |
$12.70 |
$127,000 |
||
Transurban Group |
21/09/23 |
Buy |
$12.70 |
$49,999 |
||
Transurban Group |
21/09/23 |
Buy |
$12.71 |
$50,820 |
These insider trades are breaking a bit of a dry spell for Transurban (ASX: TCL). The last time directors bought shares was back in October 2022.
Shares in the toll road operator is down around 15% from its 26 April high. During this time, the US 10-year Treasury yield rallied 108 bps to a 16-year high of 4.61%. Higher yields tend to weigh on interest rate sensitive sectors such as real estate, industrials and utilities.
Goldman Sachs says the story remains fundamentally unchanged, reiterating an Outperform rating and $13.97 target price earlier this month.
"TCL remains a high-quality defensive benefiting from population growth (1.5-2.0%) and has the road capacity to capture that growth. Combined with the openings, cashflow would grow at ~6.6% pa and dividend at 4.3% pa for the next five years," the analysts said.
Could insiders be nibbling with the view that the stock is undervalued?
Other Top Insider Trades
Code |
Company |
Date |
Director |
Type |
Price |
Value |
Notes |
|---|---|---|---|---|---|---|---|
Paladin Energy |
20/09/23 |
Buy |
$0.98 |
$97,500 |
On-market trade |
||
Webjet |
19/09/23 |
Buy |
$6.85 |
$74,911 |
On-market trade |
||
Qualitas |
18/09/23 |
Sell |
$1.62 |
$64,800 |
On-market trade |
||
AGL Energy |
20/09/23 |
Buy |
$10.70 |
$53,500 |
On-market trade |
||
Altium |
20/09/23 |
Buy |
$44.38 |
$44,384 |
On-market trade |
||
AGL Energy |
21/09/23 |
Buy |
$10.73 |
$32,190 |
On-market trade |
||
Steadfast Group |
18/09/23 |
Buy |
$5.40 |
$27,000 |
On-market trade |
||
AGL Energy |
20/09/23 |
Buy |
$10.69 |
$21,380 |
On-market trade |
||
The Lottery Corp |
19/09/23 |
Buy |
$4.72 |
$47,240 |
On-market trade |
Uranium stocks have soared in recent weeks as spot prices topped US$70 a pound for the first time since the Fukushima disaster in 2011.
Even though stock charts are going vertical, a non-executive director from Paladin Energy (ASX: PDN) doesn't mind fronting up the premium. And that trade would've worked out well as Paladin Energy shares are up more than 10% since the buy last week.
This article was first published for Market Index on Thursday, 28 September 2023.
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Kerry is a Content Strategist at Market Index. He writes the daily Morning Wrap and Weekend Newsletter. Kerry is passionate about trading and the catalysts that influence the market. His content focuses on highlighting the key data and insights that matter most to investors.
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Kerry is a Content Strategist at Market Index. He writes the daily Morning Wrap and Weekend Newsletter. Kerry is passionate about trading and the catalysts that influence the market. His content focuses on highlighting the key data and insights...
Expertise
Kerry is a Content Strategist at Market Index. He writes the daily Morning Wrap and Weekend Newsletter. Kerry is passionate about trading and the catalysts that influence the market. His content focuses on highlighting the key data and insights...
Expertise
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