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See notes below for why you should follow directors transactions
Latest director's on-market sharePurchases
|MICHAEL HILL INTERNATIONAL LIMITED (MHJ)||Rob Fyfe||20 Mar 19||750,000||$0.700||$525,000|
|TELSTRA CORPORATION LIMITED (TLS)||Roy Chestnutt||12 Mar 19||43,000||$3.224||$138,629|
|AMP LIMITED (AMP)||John O'Sullivan||25 Feb 19||42,711||$2.350||$100,371|
|AMP LIMITED (AMP)||David Murray||22 Feb 19||280,000||$2.356||$659,680|
|AMP LIMITED (AMP)||Peter Varghese||21 Feb 19||43,200||$2.319||$100,181|
|AMP LIMITED (AMP)||Michael Wilkins||19 Feb 19||67,650||$2.224||$150,454|
|TELSTRA CORPORATION LIMITED (TLS)||Eelco Blok||19 Feb 19||75,000||$3.640||$272,976|
|MICHAEL HILL INTERNATIONAL LIMITED (MHJ)||Janine Allis||01 Nov 18||363,815||$0.675||$245,557|
|MICHAEL HILL INTERNATIONAL LIMITED (MHJ)||Rob Fyfe||18 Oct 18||700,000||$0.720||$504,000|
|WESTPAC BANKING CORPORATION (WBC)||Nerida Caesar||16 May 18||9,985||$30.190||$301,447|
|AUSTRALIAN FOUNDATION INVESTMENT COMPANY LIMITED (AFI)||Graeme Liebelt||22 Mar 18||81,570||$6.100||$497,577|
|AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED (ANZ)||Ilana Atlas||21 Dec 17||7,000||$28.970||$202,790|
|AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED (ANZ)||Jane Halton||21 Dec 17||4,919||$29.020||$142,749|
|TELSTRA CORPORATION LIMITED (TLS)||John Mullen||14 Sep 17||75,000||$3.610||$270,750|
|TELSTRA CORPORATION LIMITED (TLS)||Craig Dunn||11 Sep 17||54,000||$3.704||$200,000|
|AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED (ANZ)||John Macfarlane||06 Jun 17||5,000||$27.630||$138,150|
|TELSTRA CORPORATION LIMITED (TLS)||Jane Hemstritch||16 Aug 16||67,500||$5.450||$367,640|
|AUSTRALIA AND NEW ZEALAND BANKING GROUP LIMITED (ANZ)||Paula Dwyer||05 May 16||4,433||$25.340||$112,332|
|WESTPAC BANKING CORPORATION (WBC)||Craig Dunn||03 Jul 15||8,500||$32.933||$279,932|
|AMP LIMITED (AMP)||Simon McKeon||03 Nov 14||33,805||$5.828||$196,999|
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.