Optimism in big players' buys
The manufactured accommodation group – which services the mining and education sectors – encountered weak trading conditions in all of its key markets during the past year.
This one-time sharemarket darling – a 13-bagger between 2001 and 2010 – reported 2012 earnings of $12.5 million ($53 million, previously). Last month, shareholders were told current half earnings would be lower and second-half figures higher.
John Bond, who joined the board in March, dipped his toe in the water, paying $2.39 a share.
Goldminer Troy Resources has been put through the wringer, falling from $4.08 to as low as 88¢.
Various directors have bought recently, including Robin Parish and John Jones.
Retailer OrotonGroup has halved in recent months. Eddie Chieng bought some shares and new managing director Mark Newman is now on the share register with a $10,069 acquisition.
Brambles chief Thomas Gorman was a seller ahead of the demerger of Recall Holdings, the group’s information management business.
Recall’s managing director, Douglas Pertz wasted no time getting his foot on some scrip – not shown on the accompanying table – buying 50,000 shares at $4.35 on the first day of trading. The shares closed yesterday at $4.15.
And from the recent-history-department, GUD Holdings yesterday said its first-half results might be about 30 per cent lower.
Managing director Jonathan Ling about 20 days ago opened his account, paying $5.76 a share. Yesterday the scrip fell nearly 12 per cent to $4.73 before closing at $5.15.
Frequently Asked Questions about this Article…
Fleetwood Corporation's stock price has dropped significantly due to weak trading conditions in its key markets, including the mining and education sectors. This has led to a decrease in earnings, impacting investor confidence.
Directors of Troy Resources, including Robin Parish and John Jones, have recently purchased shares in the company. This indicates a level of confidence in the company's future prospects despite its recent stock price decline.
OrotonGroup's stock has halved in recent months. However, there has been some insider buying, with Eddie Chieng and new managing director Mark Newman acquiring shares, suggesting potential optimism about the company's future.
Ahead of the Recall Holdings demerger, Brambles' chief Thomas Gorman sold shares. This move was part of the restructuring process as Recall Holdings, the group's information management business, became a separate entity.
Douglas Pertz, managing director of Recall Holdings, purchased 50,000 shares at $4.35 on the first day of trading. This purchase signifies his confidence in the newly independent company's potential.
GUD Holdings announced that its first-half results might be about 30% lower due to various market challenges. Despite this, managing director Jonathan Ling recently bought shares, indicating his belief in the company's long-term value.
Insider buying, such as recent purchases by directors of companies like Fleetwood Corporation and Troy Resources, often indicates that those with in-depth knowledge of the company believe in its future potential, which can be a positive signal for everyday investors.
Investors should consider recent stock price fluctuations as part of broader market trends and company-specific challenges. Insider buying can be a positive indicator, but it's essential to conduct thorough research and consider long-term prospects before making investment decisions.
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