This ASX 200 director bought $1.5 million worth of his company's shares in July… and he's still buying

Which ASX 200 share is being loaded up by its director?

| More on:
A woman is excited as she reads the latest rumour on her phone.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Key points

  • Eagers Automotive shares are showing no signs of slowing down with its non-executive director, Nick Politis further increasing his holding 
  • In total, Politis has spent more than $1.5 million in the last month alone which makes him the biggest shareholder in the company 
  • Despite accelerating in recent times, Eagers Automotive shares are down 6% in 2022 

While the S&P/ASX 200 Index (ASX: XJO) is heading south today, this isn't the case for the Eagers Automotive Ltd (ASX: APE) share price.

This comes after the company announced another sizeable share purchase from one of its directors.

During mid-afternoon trade, the automotive retailer's shares are swapping hands at $12.58, up 2.11%.

For context, the benchmark ASX 200 index is trading at 6,963.4 points, down 0.42%.

Eagers Automotive insider buying action continues

Despite the Eagers Automotive share price surging 26% in a month, the company's non-executive director, Nick Politis is continuing to increase his holdings.

According to its release, Eagers Automotive advised that Politis has bought another 10,000 shares at a price of $12.41 apiece. This was conducted via an on-market trade through his subsidiaries, W F M Motors and NGP Investments.

While the latest transaction equates to the value of around $124,000, Politis spent more than $1.5 million last month.

This means that Politis now has over 70.36 million Eagers Automotive shares and is its largest shareholder by some margin.

Last month, the company received the green light to acquire the rich lister's privately-owned dealerships in the Australian Capital Territory.

The $193 million deal is expected to generate $450 million in annual revenue for Eagers Automotive.

It is worth noting that since hitting a 52-week low of $8.65 on 17 June, shares in the company have risen by 45%.

Eagers Automotive share price recap

Although the Eagers Automotive share price has been in fine form lately, it's down 21% over the last 12 months.

Year to date has fared slightly better, a 6% loss for the period.

Based on today's price, Eagers Automotive presides a market capitalisation of approximately $3.17 billion.

Motley Fool contributor Aaron Teboneras has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Consumer Staples & Discretionary Shares

A young man punches the air in delight as he reacts to great news on his mobile phone.
Consumer Staples & Discretionary Shares

A2 Milk shares rocket 18% on guidance upgrade and big dividend news

The infant formula company is finally going to start paying dividends to shareholders.

Read more »

A man in a suit face palms at the downturn happening with shares today.
Consumer Staples & Discretionary Shares

Why is this ASX 300 stock crashing 15% today?

Let's see how this popular stock is performing so far in FY 2025.

Read more »

Happy couple laughing while shopping in supermarket
Consumer Staples & Discretionary Shares

Coles shares: Broker says the 'risk-reward is attractive'

Ord Minnett has good things to say about the supermarket giant following its quarterly update.

Read more »

A man looks a little perplexed as he holds his hand to his head as if thinking about something as he stands in the aisle of a supermarket.
Consumer Staples & Discretionary Shares

Down 20% this year, can Woolworths shares catch a break?

The headlines continue this week.

Read more »

A man looks sadly away from his computer screen as he holds a slice of pizza in his hand with an open pizza box in front of him on his desk.
Consumer Staples & Discretionary Shares

3 reasons this expert is selling Domino's shares now

Down 48% in 2024, why this investing expert recommends selling Domino’s shares.

Read more »

a car driver sits up and looks alert with wide eyes and an expression of concentration while he holds the wheel of a car.
Share Fallers

Why this ASX All Ordinaries stock just crashed 24%!

Investors are punishing the ASX All Ords company today. Let’s find out why.

Read more »

woman holding man's hand as he falls representing ups and downs of ASX investing
Consumer Staples & Discretionary Shares

Why did this ASX 200 stock just crash 11%?

Investors appear nervous about a $475 million acquisition.

Read more »

Man pointing at a blue rising share price graph.
Earnings Results

Guess which ASX All Ords share is soaring on 21% FY 2024 growth

Investors are piling into the ASX All Ords share today. Let’s find out why.

Read more »