Corporate actions often speak louder than earnings calls. Whether it’s directors snapping up shares or institutional investors reshuffling stakes, these moves hint at where the smart money thinks the market is headed.
This week, some seasoned investors made notable moves.
At agri-services specialist KAL Group, nonexecutive director and PSG Group co-founder Chris Otto’s purchases suggest optimism about the company’s prospects. On March 12, he bought a modest 342 shares at R41.60 each (R14,227.20 in total). The next day he went bigger, purchasing 24,658 shares at R42 each, committing more than R1.03m. With KAL’s recent operational streamlining and stable earnings report, Otto’s move could signal confidence in long-term growth.
Another investment sector doyen was busy too. Fred Robertson — a co-founder of enduring empowerment group Brimstone Investment Corp — angled for 18,666 shares in fishing and food company Sea Harvest. The purchase — via Robertson’s Commlife Holdings vehicle — involved a R117,000 purchase at an average price of 627c a share, which is close to the group’s record low on the JSE. Sea Harvest CEO Felix Ratheb noted recently that the past financial year was “our toughest since listing on the JSE in 2017”. Hopefully, Robertson has timed his purchase well. Ratheb said the group is still confident in the strong demand for sustainable, wild-caught seafood and products that are driving premium pricing — mostly in hard currency.
Another noteworthy transaction was Shoprite’s nonexecutive director and serial risk-taker Christo Wiese receiving a R12.5m off-market donation of 46,183 shares from his wife, Caro. While not an outright market move, the transfer raises speculation about estate planning or internal portfolio realignment within the billionaire’s holdings. Shoprite, one of South Africa’s retail success stories, remains resilient, but the market will watch if Wiese makes further purchases.
Woolworths’ earnings beat expectations, and its Australian operations have stabilised, making PIC’s move logical
The Public Investment Corp (PIC) has also kept plugging away, increasing its Woolworths stake to 20.25%, Boxer Retail to 5.23%, and KAP Industrial to 20.17%. Woolworths’ earnings beat expectations, and its Australian operations have stabilised, making the PIC’s move logical. Meanwhile, Boxer, recently unbundled from Pick n Pay, is now a pure-play discount retailer, reinforcing the PIC’s confidence.
Meanwhile, the Metal Industries Benefit Funds Administrators (MIBFA) cut its Blue Label Telecoms stake to just under 5%, down from 7.75%, as per Blue Label’s last annual report for the year ended May 2024. With Blue Label’s shares almost doubling in the past 12 months, it’s perhaps not a bad time for MIBFA to lock in gains.
A2X
A2X continues to solidify its position as a competitive alternative trading venue. This past week Prosus led in trading value, with R806m exchanged (20.74% market share). Institutional players were particularly active in Glencore, which saw R261m traded (17.13%), and Standard Bank, recording R284m (7.69%). The retail and consumer sector also had significant movement, with Shoprite trading R166m (10.26%) and Aspen Pharmacare reaching R121m (13.94%). In mining and resources Gold Fields and Harmony Gold traded R146m and R85m, respectively, while Exxaro saw R59m in activity (9.2%).
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.