Forrest keeps shares humming

Andrew Forrest ensured that directors doing some buying held sway on the directors' trades front.

Andrew Forrest ensured that directors doing some buying held sway on the directors' trades front.

With US short-sellers talking their book and trying to send Fortescue Metals Group's scrip lower, Forrest whipped nearly $24 million out of his wallet and paid $4.53 a share.

The share price has closed higher every day since his buying, closing on Friday at $4.94.

Forrest is no stranger to supporting his stock in the market.

Last year he spent about $135 million within a few days at $4.85 share and followed that with buying at $4.02 and $3.71 a share.

The overall scorecard registered $26.5 million to $29.6 million in favour of buyers.

Beyond International made a rare appearance for that quantity of stock when long-time chairman

Ian Ingram increased his stake. Managing director Mikael Borglund sold shares.

Beyond, which produces TV programs including MythBusters, increased pre-tax earnings by about 7 per cent in the year to June 30.

Also prominent again was iSelect. Until last week, five of the six-man board had recently bought shares, and now non-executive director Shaun Bonett made it a full house.

Leslie Webb gets the boardroom prize for the lowest price paid - $1.27. The shares closed on Friday at $1.29.

Elsewhere, the persistence medallion goes to Jane Tongs, a director of Run Corp, a real estate agency and services group.

Tongs has recently paid 28¢, 30¢ and 35¢ a share.

The chief, Robert Farmer, looks to have turned the ship around; the scrip has more than doubled during the past year.

Robert Velletri, chief at engineering group Monadelphous, took $9.5 million off the table.

The one-time market darling has seen its shares shredded by around one-third this year.

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