Image source: Getty Images
The S&P/ASX All Ordinaries Index (ASX: XAO) is up 0.57% amid news that several directors of various ASX All Ords companies have been adding to their portfolios over the past week.
Investors typically take this as a good sign, so let's review the ASX All Ords stocks involved.
Myer Holdings Ltd (ASX: MYR)
The Myer share price is 51 cents, steady on yesterday's close and down 25.4% over the year to date. Non-executive director Terry McCartney bought 200,000 shares on-market last Tuesday through a family trust. The ASX All Ords buy-up cost him $99,000. This was McCartney's first purchase since joining the Myer board in November 2022. McCartney's purchase follows several others earlier this month, with some directors purchasing for the first time in two years.
Credit Corp Group Limited (ASX: CCP)
Credit Corp shares are also steady at $12.05 today but have tumbled 34.5% in the year to date. Director Trudy Vonhoff snapped up 4,025 shares for just under $50,000 last Wednesday on-market. This increased her personal holdings in this ASX All Ords stock by more than 30%. Most of the Credit Corp share price crash this year occurred earlier this month when the company revealed an anticipated 50%-plus reduction in FY24 profits due to an impairment of the carrying value of its US Purchased Debt Ledger assets.
Magellan Financial Group Ltd (ASX: MFG)
The Magellan share price is trading at $6.46, up 0.94% today and down 26% in 2023 so far. Executive chair Andrew Formica invested almost a quarter of a million dollars last week in the beleaguered ASX All Ords financial share. Formica bought 40,000 Magellan shares last Thursday on-market for $6.2390 per share. Formica stepped into the executive chair's role following the unexpected resignation of CEO David George, who only started in the job last year. George's departure was announced last week and sent Magellan shares tumbling to a 10-year low of $6.06.
Mayne Pharma Group Ltd (ASX: MYX)
The Mayne Pharma share price is down 1% today at $3.73 and down 11.2% over the year to date. Shawn O'Brien bought 37,041 shares last Tuesday on-market for almost $141,000. Kathryn MacFarlane spent almost $70,000 on 18,000 shares on Wednesday, almost doubling her existing holdings in the ASX All Ords healthcare stock. Ann Custin invested a bit over $41,000 buying more Mayne Pharma shares over two separate days, more than doubling her holdings. These ASX insider buys all occurred in the days after Mayne's 1Q FY24 update. The company reported quarterly sales of $92.3 million and a gross margin of 58% compared to 4Q FY23 sales of $68.2 million and a gross margin of 43%.
Ansell Limited (ASX: ANN)
The Ansell share price is trading at $21.36, up 0.66% today and down 23.5% in 2023 so far. Nigel Garrard snapped up 1,250 extra shares in the ASX All Ords healthcare company last Friday for $26,500 through a family trust. Last Tuesday, the health and safety products company revealed at its annual general meeting that chair, John Bevan, was retiring. As my Fool colleague James reported, this overshadowed Ansell's reaffirmation of its FY24 earnings guidance.
