Monday, December 21, 2015

Insider Trade

For the week ending 18 Dec, buying rebounded strongly, while buyback activity remained high.

Insider purchases: 25 companies saw 59 purchases worth $11.6m, vs. 17 firms, 51 purchases worth $3.39m the week prior.

Insider sales: Two companies saw two disposals at $0.426m, vs. one disposal worth $0.004m the week before.

Buybacks: 26 companies posted 89 repurchases worth $15.5m, vs. 21 companies, 82 buybacks worth $19.6m.

Notable transactions:
HG Metal: Made its first buybacks since Dec ’12. 529,000 shares were purchased at an average of $0.04 each, accounting for 33% of the stock’s trading volume, and on the back of a 60% drop in share price since Mar.

Kingsmen Creatives : Recorded its first buybacks since Oct ’08, with 725,000 shares purchased at average $0.633. The trades were 60% of activity, and were made on the back of a 20% drop in share price since Nov.

Q&M: Recorded its maiden buybacks with 233,000 shares purchased at an average price of $0.699. The trades were made on the back of a 12% drop in share price since Oct.

GL Ltd (formerly GuocoLeisure): Non-executive chairman Quek Leng Chan continued where he left off in Sept, purchasing 525,000 shares at an average of $0.835. The trades accounted for 41% of the stock’s trading volume. The Asia Insider notes that the stock rose on average of 8% three months after the chairman bought, based on 181 purchases since 2004.

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