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Weekly ASX 200 Insider Trades Report (28 April – 1 May 2025)
Welcome to this week’s edition of the Insider Trades Series, where we provide a summary of significant director transactions on the ASX 200, with trades valued at over $10,000. The reported trades occurred between 28 April and 1 May 2025, within which directors are required to notify the ASX of their activities within a five-business-day timeframe.
Despite the buoyant performance of equity markets, with the S&P/ASX 200 index trading 3% higher than pre-Liberation Day levels, market activity remains subdued for the third consecutive week. This trend continues amid signs of trade de-escalation.
Significant Insider Trades on ASX 200
| Code | Company | Date | Director | Type | Price | Value |
|---|---|---|---|---|---|---|
| AX1 | Accent Group | 28/04/25 | Daniel Agostinelli | Sell | $1.81 | $738,200 |
| BXB | Brambles | 29/04/25 | Maxine Brenner | Buy | $19.61 | $196,100 |
| KLS | Kelsian Group | 28/04/25 | Jacqueline McArthur | Buy | $2.60 | $130,000 |
| REH | Reece | 28/04/25 | Angela Mentis | Buy | $15.74 | $31,480 |
| PNR | Pantoro Gold | 28/04/25 | Paul Cmrlec | Buy | $2.81 | $28,049 |
Key Insights from the Trades
Accent Group’s CEO Daniel Agostinelli made headlines last week by selling $738,200 worth of shares, following his previous week’s divestment of $694,817—this accounts for approximately 4.8% of his total holdings. Despite the sales, he retains beneficial ownership of about 16.5 million shares, valued at approximately $31.3 million.
Recently, Accent initiated a strategic long-term partnership with the UK’s Frasers Group to introduce Sports Direct into the Australian and New Zealand markets. This partnership is backed by a $60.5 million equity placement from Frasers and plans to establish at least 50 stores in the region by 2031, with aspirations for expansion to 100. Analysts perceive the deal as strategically advantageous for Accent, particularly following a ~36% decline in its share price since December 2024, suggesting potential for an ~11% EBITDA increase for FY24 if Sports Direct captures a third of Rebel’s store network. However, there are mixed opinions regarding execution capabilities, specifically regarding leasing negotiations, brand recognition, and competition from established players such as Rebel and JD Sports.
In other insider trading activities, Brambles, Kelsian, and Reece witnessed transactions carried out by Non-Executive Directors, indicating continued investment interest at the leadership level.
On a noteworthy note, Paul Cmrlec, Managing Director of Pantoro, acquired an additional 10,000 shares valued at $28,049, resulting in a ~1.1% increase in his ownership to 896,281 shares. This purchase comes during a period of approximately 6% decrease in gold prices from their recent peak on April 21. Comparatively, Pantoro shares have held surprisingly well, only reflecting a decline of around 7% from recent highs, despite the broader market retreat of 10-15% among large-cap gold stocks.
Conclusion
This week’s insider trades reflect a mix of strategic selling and buying, indicative of varying levels of confidence among directors in the market and their respective companies. While some leaders, like Agostinelli, are choosing to liquidate portions of their holdings, others are capitalising on perceived value in their companies, notably in the sectors of gold and retail. As we move further into the year, it will be intriguing to observe how these strategic decisions unfold amid an ever-evolving market landscape.
Stay tuned for our next weekly report for further insights into director transactions on the ASX.
