Director Deeds: Small caps, big tech, and 'healthy' buys

We're hopping through April, with the help of small cap directors, retail leaders and medical minnows.

It may be April, but whether that means more investors or directors are playing foolish games is anyone's guess, for now. Only time can render the many buys across many areas of the market worthless, or not.

If it’s not the sales, it’s the director deeds that draw us to Adairs. The homewares retailer is no stranger to director transactions, but this director hasn’t purchased shares there since the final months of 2017. Michael Butler is the latest director to buy a piece of the Adairs pie, spending around $100,000 at the shops just the other day. However, unlike purchases that have come before, this one took place when the shares were heavily discounted – at least compared to where they were trading last year, that is. The first-quarter is typically the weakest for retailers. Traditionally, there’s a lull after Christmas, consumers get bombarded with bills and fees, so straight into utilities, and the consumer sector only starts to see a reprieve in the lead-up to the new financial year. A reprieve, because that’s the extent of the relief that discretionary retailers have seen in the last couple of years. Adairs was tracking around a 52-week low at the time. 

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