Nufarm CEO Gregory Hunt Purchases AU$128k Worth of Stock, Increasing Shareholding by 4.8%

Nufarm Limited's MD, CEO & Executive Director, Gregory Hunt, recently bought AU$128k worth of stock, increasing their shareholding by 4.8%. The independent non-executive chairman, John Gillam, made the biggest insider purchase in the last 12 months, buying AU$292k worth of shares at AU$3.89 each. Insiders have been buying shares but not selling, and own AU$6.3m worth of Nufarm stock, representing 0.7% of the company.

Nufarm Limited's Managing Director, CEO, and Executive Director, Gregory Hunt, recently acquired AU$128k worth of stock, increasing their shareholding by 4.8%. Additionally, the independent non-executive chairman, John Gillam, made the largest insider purchase in the last 12 months, buying AU$292k worth of shares at AU$3.89 each. These transactions suggest a positive outlook from key insiders, who have been buying shares without selling any in the recent period. Currently, insiders own AU$6.3m worth of Nufarm stock, representing 0.7% of the company [2].

In the context of Nufarm's recent earnings report, the company's share price experienced significant volatility. On 21 May, Nufarm reported a 39.5% year-on-year drop in earnings for the six months to 31 March. The share price subsequently tanked from AU$4.02 to AU$2.81, prompting the Australian Securities Exchange (ASX) to raise concerns about a potential breach of its continuous disclosure policy. Nufarm has since clarified that its earnings were not materially different from market expectations, attributing the share price decline to various factors such as downward pressure on fish oil prices, increased net debt, and the announcement of a review of its seed technologies business [2].

Despite the recent earnings setback, insider buying activity provides a positive signal. The fact that insiders have been acquiring shares without selling any indicates a level of confidence in the company's long-term prospects. However, investors should remain vigilant and consider the broader context, including the company's financial health and market conditions, before making investment decisions.

References:
[1] https://www.capitalbrief.com/briefing/nufarm-denies-asx-breach-after-share-price-crashed-on-weak-earnings-72f2f1af-8a9a-4712-bde2-4589f084363d/
[2] https://www.capitalbrief.com/briefing/nufarm-denies-asx-breach-after-share-price-crashed-on-weak-earnings-72f2f1af-8a9a-4712-bde2-4589f084363d/