Someone just bought $22 million of Flight Centre shares. Here's what we know

Has a whale flooded into Flight Centre?

Sebastian Bowen

Author Bio Sebastian Bowen has been a Motley Fool contributor since late 2018. Sebastian found his passion for writing and educating others about shares and all things finance after completing his studies in political, economic and social science and enjoys bringing this passion to life at the Fool. His investment philosophy is a simple one – buying high-quality companies at prices that make sense. When he’s not researching his next investment at all hours of the morning, Sebastian enjoys classic movies and likes to unwind with a good book, newspaper or record. Areas of Expertise Dividend investing ETFs Education Bachelor of Political, Economic, and Social Sciences (Government and International Relations), University of Sydney Social Media X/Twitter Favorite Investment Quote "In the short run, the market is a voting machine, but in the long run, it is a weighing machine." – Benjamin Graham

Published February 13, 2023 4:30 pm AEDT

It's been a rather dour start to the trading week for the share markets this Monday. The S&P/ASX 200 Index (ASX: XJO) has recorded a 0.21% loss for the session at today's close.

But not all ASX 20 shares dipped into the red today. Just take Flight Centre Travel Group Ltd (ASX: FLT) shares.

Flight Centre had a turbulent start this morning. After closing at $18.21 a share last week, the ASX 200 travel share opened at $18.13 this morning before dropping as low as $18.06.

But investors quickly got over their nerves, and the Flight Centre share price was trading comfortably in the green, up 0.74% at $18.34 at the market close.

There hasn't been any fresh news out of Flight Centre itself that could explain these gains on a down day. And Flight Centre is one of the only ASX travel shares in a good place. Others, such as Webjet Limited (ASX: WEB) and Qantas Airways Limited (ASX: QAN) did not escape losing value today.

So perhaps these gains are the result of some trading action.

Kid with arms spread out on a luggage bag, riding a skateboard. — Image source: Getty Images

Flight Centre shares defy the ASX 200 amid monster trade

According to reporting in The Australian today, Flight Centre shares have just seen an enormous trade take place. A block of 1.2 million shares changed hands today, worth around $22.1 million. That's the equivalent of 0.7% of all the Flight Centre shares on the market.

This trade reportedly took place for a price of $18.45 per share. So clearly, a large investor (or group of investors) has decided to take up a substantial investment in the company.

Such a vote of confidence could be helping push up the Flight Centre share price this session, and might explain why this ASX 200 travel share is defying the gloom of the broader market this Monday.

No doubt shareholders will be pleased.

Flight Centre shares have already had a stellar start to 2023. Since the start of the year, this company has rallied by an impressive 27.6%. However, Flight Centre remains down by more than 9% over the past 12 months:

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