Since the company's response to the price query on 2 November 2016 (when they were asked why the price price had fallen), four directors have increased their holdings. Collectively over the past month, they have invested almost $1.1m at 93.1 cents per share.
That said, BG did sell $4.8m at 92.3 cents per share (with dividend) in mid August 2016. To buy $0.8m at 92.9 cents per share (without dividend) a couple of months later doesn't appear profitable.
In any case, I wonder what the directors see in the company now, when only a year ago shares were trading around mid 30s. What value could be left after a 166% share price appreciation? I had to go back to late 2014 and mid 2015 for a similar number of announcements about directors buying, but back then shares were going at around 18c.
Director
Date
Number
Value
Average
1
BG
09-Nov
50,922
49,461
0.971
2
BG
18-Nov
801,030
741,875
0.926
3
LM
18-Nov
100,000
96,950
0.970
4
DP
23-Nov
21,500
18,705
0.870
5
PD
24-Nov
72,717
69,081
0.950
6
PD
05-Dec
82,283
74,055
0.900
7
Total
1,128,452
1,050,127
0.931
SSM Price at posting:
95.5¢ Sentiment: Hold Disclosure: Held
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