Two IGL directors selling large parcels of shares – any cause for concern?

Hi Carl,

No one likes a Director/Chair selling, in this case the Selig family offloaded 5m shares at a decent discount to the last price of nearly 5%. Sizable block trades will often go at a discount if a substantial shareholder is letting some stock go. That discount tends to be larger when an insider lets some go as was the case here with Executive Chairman Geoff Selig and his brother, also a director, Paul reducing their holding again after a number of similar transactions over the last 12 months.  As a point of interest, our data shows his average price was $1.41, selling last week at $1.90.

No reason has been provided by the Selig’s as for the sell down which doesn’t help investor confidence, also coming off the back of a weaker FY23 result in August.

We do like this stock although it is at the pointy end of economic activity which dictates marketing budgets.

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IVE Group Ltd (IGL)

LAST UPDATED 01/12/2023 15:33

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IVE Group Ltd (IGL)

LAST UPDATED 01/12/2023 15:33