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 Morning and Evening Wraps. He is an avid swing trader, drawn to technical set ups and breakouts.
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Kerry is a content strategist at Market Index. He writes the Morning and Evening Wraps. He is an avid swing trader, drawn to technical set ups and breakouts.
Expertise
Kerry is a content strategist at Market Index. He writes the Morning and Evening Wraps. He is an avid swing trader, drawn to technical set ups and breakouts.
Expertise
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