Monday, April 25, 2016

Insider trades

Insider trades: Buying/selling flat 2nd week; buyback value plunged

Asia insider notes that director buying and selling were flat a second week for the week ending 22 Apr.

Insider buying: 12 companies saw 27 purchases worth $2.35m, vs. 16 firms, 28 acquisitions, worth $0.94m

Insider selling: Four corporates saw eight disposals worth $1.23m, vs. three companies, eight disposals worth $0.93m

Buybacks: Five firms posted seven repurchases worth $0.41m, vs. six firms, 11 buybacks worth $5.37m.

Notable transactions:
BreadTalk: Resumed buying back at lower prices, purchasing 299,000 shares on 19 Apr at $1.03 each. The trade was made on the back of an 8% drop in share price since the last week of Jan. Most recently, the group had previously acquired 50,000 shares between 11 and 20 Jan at $1.10 each, as well as 534,000 shares from Apr to Aug ’15 at an average of $1.22 each.

Boardroom: Non-executive chairman Goh Geok Khim resumed buying, picking up 240,600 shares on 20 Apr at $0.626 each. The trade increased his total holdings to 86.63%. The transaction was done on the back of a 12% rebound in share price Mar from $0.56. He previously acquired 323,000 shares from 7 to 21 Jan at $0.60 each.

SPH: CEO Alan Chan made his first on-market trade since Nov ’14, with 200,000 shares sold on 18 Apr at $4.10, reducing his stake to 0.07% from 0.09%. The sale was done on the back of a 17% rebound in share price since Jan. Asia Insider remarked that the stock tends to rise when the CEO unloads shares in the company, highlighting that SPH shares rose by an average of 8% in three months after he sold shares, based on five filings since 2004.

Genting Singapore: Independent director Koh Seow Chuan recommenced selling at sharply higher prices than his Nov sale, with 221,000 shares disposed on 22 Apr at $0.88 each. The trade reduced his stake by 53% to 0.0017%, and was done on the back of a 33% share price jump since Feb. He most recently sold 239,000 shares in Oct ’15 at $0.845.

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