Buyback and director filings taper off during pre-earnings period
The five trading sessions saw 60 director interests and substantial shareholdings filed for 20 primary-listed stocks. Directors or CEOs filed 10 acquisitions, and no disposals, while substantial shareholders filed three acquisitions and 10 disposals.
Directors that filed acquisitions included $Accrelist Ltd(QZG.SI)$ Executive Chairman and Managing Director Terence Tea Yeok Kian, $Keong Hong^(5TT.SI)$ Executive Director Xu Quanqiang and $UnionSteel(ZB9.SI)$ Executive Director Ang Yew Chye. Mr Ow Chio Kiat also added to his $SingShipping(S19.SI)$ and S $Stamford Land(H07.SI)$ interests.
1. $Singtel(Z74.SI)$
Singapore Telecommunications (Singtel) booked the most net retail selling over the 13 sessions, with S$170 million of net retail selling as the share price gained 10%. The overall volume weighted average price (VWAP) of the stock for the 13 sessions was S$2.90.
The stock booked S$43 million in net retail buying for the first two months of 2024, coinciding with the overall VWAP at S$2.38, followed by S$297 million of net retail selling over the remaining four months of 1H24, that coincided with the VWAP at S$2.46.
Singtel has also seen a significant pick up in trading turnover this year, which on a day-to-day basis has been 60% higher than seen over 2023.
2. $Dyna-Mac(NO4.SI)$
Among the 20 stocks with the most net retail selling over the 13 sessions, the company that saw the most net retail selling relative to its market value was Dyna-Mac Holdings, which saw S$8.8 million of net retail selling over the 13 sessions.
This amounted to 1.6% of the stock’s S$533 million market value as of July 17. The share price surged 23% over the 13 sessions, which resulted in a VWAP of S$0.48.
In January, the stock booked S$9.2 million of net retail buying, with the overall VWAP at S$0.28, followed by S$28.2 million of net retail selling over the remainder of 1H24, that coincided with the VWAP at S$0.35.
Dyna-Mac Holdings has also ranked just outside the 40 most traded Singapore stocks by turnover this year, with its trading turnover close to double the levels seen in 2023 and 2022.
It has also ranked among the 15 stocks that have booked the most net institutional buying in the 2024 year to July 17, with OCBC Investment Research maintaining a Buy Rating on the stock and increasing its fair value estimate on the stock to S$0.52 on July 8.
3. $Jardine C&C(C07.SI)$
While the financial and real estate sectors, which includes banks and REITs, made up 12 of the 20 stocks that saw the most net selling by retail investors in early July, the Consumer and Industrials Sectors made up 12 of the 20 stocks that saw the most net buying by retail investors over the 13 sessions.
Jardine Cycle & Carriage saw the most net retail buying over the first 13 sessions of July, at S$46 million, while the share price declined 5%.
In 1Q24 Jardine Cycle & Carriage booked S$102 million of net retail buying, followed by S$19 million of net selling by retail investors in 2Q24, and return of net retail buying in early July.
This coincided with the overall VWAP for Jardine Cycle and Carriage moving from S$25.97 in 1Q24 up to S$26.60 in 2Q24 and moving back to S$25.92 for the first 13 sessions of July.
https://www.sgx.com/research-education/market-updates/20240722-buyback-and-director-filings-taper-during-pre-earnings
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
