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See notes below for why you should follow directors transactions
Latest director's on-market share Sales | |||||
COMPANY | DIRECTOR | DATE | NUMBER | PRICE | AMOUNT |
VENTIA SERVICES GROUP LIMITED (VNT) | Dean Banks | 28 Feb 24 | 1,500,000 | $3.780 | $5,670,682 |
SMARTPAY HOLDINGS LIMITED (SPY) | Carlos Gil | 30 Aug 23 | 2,500,000 | $1.497 | $3,742,500 |
MICHAEL HILL INTERNATIONAL LIMITED (MHJ) | Rob Fyfe | 17 Nov 22 | 340,062 | $1.322 | $449,501 |
VULCAN STEEL LIMITED (VSL) | Pip Greenwood | 16 Sep 22 | 60,000 | $8.631 | $517,857 |
MICHAEL HILL INTERNATIONAL LIMITED (MHJ) | Rob Fyfe | 23 Nov 21 | 400,000 | $1.270 | $508,000 |
WESTPAC BANKING CORPORATION (WBC) | Margaret Seale | 01 Sep 21 | 12,522 | $25.670 | $321,440 |
THE A2 MILK COMPANY LIMITED (ATM) | David Hearn | 24 Apr 20 | 1,895,000 | $19.685 | $37,303,075 |
TELSTRA CORPORATION LIMITED (TLS) | Andrew Penn | 22 Feb 19 | 300,000 | $3.240 | $972,000 |
WESTPAC BANKING CORPORATION (WBC) | Brian Hartzer | 19 Dec 16 | 16,739 | $32.269 | $540,151 |
MICHAEL HILL INTERNATIONAL LIMITED (MHJ) | Emma Hill | 30 Aug 16 | 1,524,750 | $1.690 | $2,579,105 |
PAN PACIFIC PETROLEUM NL (PPP) | Neil Tomkinson | 29 Aug 14 | 55,264,758 | $0.060 | $3,315,885 |
PAN PACIFIC PETROLEUM NL (PPP) | Joshua Pitt | 29 Aug 14 | 55,274,758 | $0.060 | $3,316,485 |
WESTPAC BANKING CORPORATION (WBC) | Gail Kelly | 07 May 14 | 200,000 | $34.479 | $6,895,800 |
SKY NETWORK TELEVISION LIMITED (SKT) | John Hart | 20 Nov 13 | 20,000 | $5.930 | $118,600 |
WESTPAC BANKING CORPORATION (WBC) | Gail Kelly | 06 Nov 13 | 350,000 | $34.160 | $11,956,000 |
GUINNESS PEAT GROUP PLC (GPG) | Ronald Brierley | 05 Mar 13 | 5,000,000 | $0.600 | $3,000,000 |
GUINNESS PEAT GROUP PLC (GPG) | Ronald Brierley | 04 Mar 13 | 5,000,000 | $0.485 | $2,425,000 |
TRANSPACIFIC INDUSTRIES GROUP LTD (TPI) | Bruce Brown | 22 Feb 13 | 328,572 | $0.899 | $295,386 |
CLEANAWAY WASTE MANAGEMENT LIMITED (CWY) | Bruce Brown | 22 Feb 13 | 328,572 | $0.899 | $295,386 |
ANZ GROUP HOLDINGS LIMITED (ANZ) | Mike Smith | 19 Feb 13 | 102,000 | $28.408 | $2,897,575 |
Our website shows:
the last 20 transactions reported through NZX (as above). Very small transactions are ignored.
the last five on-market share dealings by directors on a company-by-company basis
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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.