It's been a rough 12-months for packaging stalwart Pact Group Holdings Ltd (ASX: PGH), with share prices dropping from $6.89 at this time last year to $5.59 at the time of writing.
But movement on the Pact Group registry might signal some changes are afoot for the company.
Non-executive director Lyndsey Cattermole has acquired almost 200,000 Pact Group shares since November 17, bringing the value of her holding to $1.54 million at today's price.
Likewise, over the past 5 months, founder and non-executive chairman Raphael Geminder has added more than 14 million shares to his already considerable circa 40% holding, with support from other board members also notable on the registry in recent times.
Pact has been focused on acquisitions in the last year, with its capital raising at $5.28 on a 1 for 9 basis well supported.
With the board showing such solid support for the company, investors could reasonably expect that the level of confidence management has in the company's future prospects will be reflected in a turnaround in the share price.
Global packaging peer Amcor Limited (ASX: AMC) was upgraded by Morgan Stanley from underweight to equal-weight with competitor Orora Ltd (ASX: ORA) sitting steady at $3.27 today.
