The chair of ASX All Ordinaries stock Humm Group Ltd (ASX: HUM) appears to be taking advantage of his company's share price slump.
The buy now, pay later (BNPL) share is down 2.04% today to 48 cents. This is broadly in line with the S&P/ASX All Ordinaries Index (ASX: XAO), which is down 1.77% today.
But the performance of the stock and its index diverge significantly when we look at the past 12 months.
The ASX All Ordinaries stock has lost 40% of its value while the All Ords has dropped by just 3.2%.
While this has, no doubt, disappointed shareholders, founding director and chair Andrew Abercrombie appears to see an opportunity for some dollar-cost averaging.
Buying the dip on this ASX All Ordinaries stock?
A series of notices lodged with the ASX since the start of March reveal that Abercrombie made five on-market purchases of Humm shares through his super fund between 28 February and 7 March.
In total, Abercrombie spent just over $407,000 including brokerage fees purchasing 815,329 Humm shares.
This latest spending spree follows another that Abercrombie undertook in December when he made four other on-market purchases through this super fund.
The chair spent just over $174,000 on 319,453 shares that month.
He now holds almost 118.5 million shares in this ASX All Ordinaries stock.
Abercrombie isn't the only Humm director buying shares in recent times either.
This indicates to investors that the people running the BNPL business are very confident in its future.
How is the Humm business going?
This was a vast improvement on the $168.3 million loss reported in 1H FY22.
The company said it had a strong balance sheet with $103 million in unrestricted cash.