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Welcome to HotCopper’s Director Trades column, where we take a look at all the most interesting director transactions from across the past week and break down the details. This week, we’ll look at Sept. 26 to Oct. 2.
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Directors legally have five business days to notify the ASX of their trades, so some transactions may be recorded after this article was written and published.
1. SiteMinder
The biggest “insider” trade made through the date range we’ve got in the Director Trades column this week came from Paul Wilson, who shipped away $24,999,997 worth of shares in SiteMinder (ASX:SDR) last Friday.
Mr Wilson is the co-founder of Bailador Technology Investments, which carries a large chunk of SiteMinder on its books. The deal looks to be a profit-taking one, with the sale netting Mr Wilson and Bailador a 29.4 times earnings compared to when it bought into the cloud-based tech company.
That backing came all the way back in 2005, and twenty years later, SDR is worth around $7.80. Bailador (and so Mr Wilson) still has 75% of its holdings.
2. 360 Capital Group
Next up is 360 Capital Group (ASX:TGP); executive director and chairman Tony Pitt made an on-market trade at the end of Week 39 that saw him buy another $6.9 million in the investment and funds manager.
That buy-up brings Mr Pitt’s total shares in the company he helms to 121.8M. He also holds 100M 360 Capital REIT shares and 864K in 360 Capital Mortgage.
He’s been slowly buying into more of both the Capital Group and 360’s REIT arm since late August. He picked up around $750K in the REIT side between August 20 and 25, and picked up $286K in the capital group two weeks ago.
Today, TGP is at 31cps, while the REIT arm – under “TOT” – is selling at 42.3c/ea.
3. Harvey Norman Holdings
Finally, Gerald Harvey has sold more Harvey Norman (ASX:HVN) shares on Thursday and Friday, which marks the eighth time that Mr Harvey has sold a bundle in the company since the start of the calendar year.
This time, Mr Harvey sold two bundles in Week 39: 792,550 shares for $5.8M early on Thursday, then another 507,450 for $3.7M a day later.
Last time, we hypothesised Mr Harvey was simply banking cash from the sales.
In Week 40, it’s likely the same story with HVN still up +63.3% YTD.
Catching up
Nothing extra to flag this week; we’ll have a look back again in Week 41’s write-up.
That’s this week’s Director Trades – we’ll be back with more next Friday.
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