Insider Trades: Mining juniors dominate, Nib boss scoops another parcel of shares

Welcome back to the Insider Trades series – a summary of director transactions – those on-market trades valued above $10,000 – that have taken place between 19 and 23 June 2023.

Among ASX 200 companies, transactions meeting the above criteria were thin on the ground last week – perhaps the rapidly approaching end of the financial year is the cause.

Only a few large-cap director trades occurred last week – from inside health insurer Nib Holdings and a couple of listed investment vehicles run by Wilson Asset Management and Qualitas.

Because there were so few large-cap transactions, this week we’ve wrapped them in with the small-cap insider trades.

We only saw three sells, one of these the Nib transaction just mentioned.

The prevalence of small-cap resources companies in the transactions this week is notable, no fewer than 13 mining company directors making the list.

Top insider trades of last week

Nib Holdings (ASX: NHF)

The health insurer’s CEO and managing director Mark Fitzgibbon continued his sale of NHF stock, jettisoning another $44,000 worth of the stock on 21 June. This adds to the more than $500,000 worth of stock he sold last week, in two separate transactions. 

KGL Resources (ASX: KGL)

One of only a few companies that saw multiple transactions last week was gold and copper hopeful KGL Resources. Over three consecutive days, non-executive director Jeffrey Gerard bought a total of $127,000 worth of the mining company’s stock.

KGL yesterday (28 June) announced the results of its phase one drilling program at the Jervois Copper Project in the Northern Territory.

Coventry Group (ASX: CYG)

Another company with multiple director transactions was automotive parts and equipment distributor Coventry Group.

Non-executive directors Alex White and Neil Cathie sold $258,000 and $21,000 worth of stock last week.

Lark Distilling (ASX: LRK)

The whisky maker made headlines recently as CEO Satya Sharma blamed declining consumer confidence for a drop in sales and a heavy share price drop at the company.

Chairman David Dearie seems to think investors’ thirst will return, however, buying more than $23,000 of Lark stock last Wednesday.

This article was originally published on Market Index on Thursday 29 June 2023.