Computershare down-loaded
He tipped nearly $15 million of stock into the market and the proceeds contributed to the $42 million-plus sales made by him during the past few years.
Computershare provided its shareholders with some wonderful gains up until 2007, but since then the shares have been bouncing around within a range of about $7 to $11 or $12.
Morris helped the overall sellers' tally top $55 million, compared with $8.5 million for those directors doing a bit of buying.
A more lucrative conveyance has been Ramsay Health Care, which increased "core" earnings by 15 per cent to $291 million in the June year, and which now sits on a hefty 25 times earnings.
Christopher Rex, the chief of the country's biggest private hospital operator, earlier this year extended his contract until 2016 and chairman Paul Ramsay described Rex's performance as outstanding.
Rex has just cashed in a few chips, raising nearly $11 million from the sale of shares at $36.26 - about 5 per cent below the paper's recent all-time high.
Also no slouch in the appreciation stakes has been Mermaid Marine, where managing director Jeffrey Weber sold shares. He said the proceeds would be used to pay the cost of exercising options and associated tax.
Zygmunt Switkowski likes to buy shares in useful quantities. He's just put $213,250 into Oil Search scrip. Last month he spent $367,800 on Suncorp Group shares.
Very brave punters who like beaten-up stocks could take a look at Capral, where relatively new chief Anthony Dragicevich has recently paid 18.5¢ and now 21¢ for scrip in the semi-fabricated aluminium products group.
Frequently Asked Questions about this Article…
Christopher Morris, the man behind Computershare, tipped nearly $15 million of Computershare stock into the market this week. That sale forms part of more than $42 million in shares he has sold over the past few years.
Computershare delivered strong gains up until 2007, but since then the shares have largely traded in a range of about $7 to $11–$12, bouncing around rather than trending higher.
The article notes that overall director selling recently topped about $55 million, compared with roughly $8.5 million in purchases by directors — with Christopher Morris a major contributor to the selling total.
Ramsay Health Care increased 'core' earnings by 15% to $291 million in the June year, and the stock was trading at about 25 times earnings according to the article.
Christopher Rex, chief of the country's biggest private hospital operator, recently raised nearly $11 million by selling shares at $36.26 a share — about 5% below the paper's recent all-time high. Earlier this year he also extended his contract until 2016.
Jeffrey Weber sold shares at Mermaid Marine and said the proceeds would be used to pay the cost of exercising options and the associated tax obligations.
Zygmunt Switkowski bought $213,250 worth of Oil Search scrip and, in the previous month, spent $367,800 on Suncorp Group shares.
At Capral, relatively new chief Anthony Dragicevich has been buying scrip in the semi‑fabricated aluminium products group, having paid 18.5 cents and more recently 21 cents per share.
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