The Judo Capital Holdings Ltd (ASX: JDO) share price is giving back all its gains made in the past few days. This comes despite the bank providing a positive update to the ASX in the hours before market open today.
At the time of writing, Judo shares are swapping hands at $1.672, down 2.22%.
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What did Judo announce?
After a disappointing finish on Wall Street overnight, the All Ordinaries (ASX: XAO) is 1.61% lower to 7,760.2 points.
In turn, this has put selling pressure on the Judo share price throughout the day.
According to the company's release, its CEO and co-founder, Mr Joseph Healy purchased a parcel of Judo shares yesterday.
The transaction involves 581,000 Judo shares which were picked up via an on-market trade for $1.72 per share. This equates to a value of almost $1 million.
Following the transaction, Mr Healy now has a total holding of roughly 34.77 million Judo shares. This represents about 3.15% of the company's entire issued capital.
Judo noted that the share purchase was conducted during the trading window, and approved by the chair of the board.
It appears Mr Healy believes the company's shares are attractively valued, taking advantage of the recent share price weakness.
Earlier this month, the Judo share price hit an all-time low of $1.61 before rebounding slightly higher.
The company noted that Mr Healy is prohibited from selling these shares within three months of the purchase date.
Judo share price snapshot
Since listing on the ASX in November 2021, Judo shares have sunken by around 21%.
The company's share price has been moving along on a downhill trajectory, particularly since the start of 2022, down 22%.
Based on today's price, Judo commands a market capitalisation of roughly $1.84 billion.
