3 insiders buy up shares in ASX All Ords stock following crash

Shares were bought swiftly following the crash.

| More on:
Woman and man calculating a dividend yield.

Image source: Getty Images

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

It's been a tough start to 2025 for ASX All Ords stock PlaySide Studios Ltd (ASX: PLY). Starting the new year at 41 cents apiece, shares in the video game developer were at 38 cents by Monday's close.

On the last check, they closed yesterday's session at 20.5 cents apiece. This came after a 40% drop on Wednesday that originated from PlaySide's H1 FY25 earnings.

But even as investors have exited en masse, some of the company's top names haven't been deterred, buying up shares instead. Let's take a deeper dive.

Insiders nab up ASX All Ords stock

According to mandatory ASX disclosures filed on Thursday, three PlaySide insiders – two directors and the CEO – each bought large lines of PlaySide shares on January 30.

This was exactly one day after the brutal sell-off.

Director Aaron Pasias purchased 100,000 shares at 20 cents per share, bringing his total holding in the ASX All Ords stock to 66.35 million.

Fellow director Mark Goulopoulos went in even bigger, buying 150,000 PlaySide shares, lifting his stake to 66.45 million shares.

Meanwhile, CEO Gerry Sakkas also added 100,000 shares, bringing his total holding to 67.7 million shares in the company.

Collectively, Pasias, Goulopoulos, and Sakkas own roughly 49% of shares outstanding (200.5 million from 410.5 million) in the ASX All Ords stock.

Why did PlaySide shares sell-off?

The market, like Shakira's hips, doesn't lie. Share prices, on aggregate, reflect a business' fundamentals.

That said, PlaySide has faced several headwinds that have likely impacted the ASX All Ords stock.

In its half-year update, the company downgraded its revenue expectations for FY25. It cited a backlog in negotiations for work for hire contracts, leading to "project decisions being deferred later into the 2025 calendar year."

Revenues for the period were also down 21% compared to H1 FY23, with Original IP sales down 44% on the prior year.

To offset this, management has been making adjustments. These include a headcount reduction, delaying new publishing investments, and winding back the spending through a "reduction in discretionary overheads".

Management also said it has a "strong focus on development and investment" this year, looking to "a significant number of game launches in FY26 onward".

Investments include publishing the 'MOUSE: P.I For Hire' title, after a large social media request to do so.

It is also utilising IP from the Game of Thrones franchise in the launch of a "real time strategy game".

Time will tell if these will impact the ASX All Ords stock. It is still rated a buy from three analysts according to CommSec. There are no hold or sell ratings at the time of writing.

Foolish takeout

This ASX All Ords stock was sold off heavily earlier in the week, but that didn't stop several insiders from buying up shares.

Zooming out, the stock is now down nearly 72% in the past year following these latest price moves.

Motley Fool contributor Zach Bristow has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Communication Shares

Two women happily smiling and working on their computers in an office
Dividend Investing

Which ASX 200 communications share will pay the best dividend yield in 2025?

Several communications stocks are expected to pay dividend yields above the ASX 200 Index average of 4%.

Read more »

A male investor sits at his desk looking at his laptop screen holding his hand to his chin pondering whether to buy Macquarie shares
Communication Shares

Is this my chance to buy Telstra shares?

After drifting lower, I’m considering whether this stock is an opportunity.

Read more »

Man smiling at a laptop because of a rising share price.
Communication Shares

This ASX 200 stock just hit an all-time high and UBS still tips 24% upside

Fear not buying this ASX 200 communications stock despite it trading at a record high, says UBS.

Read more »

A male investor sits at his desk looking at his laptop screen holding his hand to his chin pondering whether to buy Macquarie shares
Communication Shares

Are Tuas shares the next Telstra?

I think this Asian telco has an exciting future.

Read more »

Five young people celebrate outside with sparklers
Dividend Investing

1 ASX dividend stock down 47% in 12 months I'd buy right now

These stocks are a real opportunity, in my view.

Read more »

Worried unemployed woman sits on white chair waiting for job interview
Communication Shares

One beaten-up ASX stock at 'a potential turning point' in 2025

The company has shown fundamental improvements, this fundie says

Read more »

A happy man and woman sit having a coffee in a cafe while she holds up her phone to show him the ASX shares that did best today.
Communication Shares

Telstra stock: Buy, sell, or hold in 2025?

Here’s what I’d take into account with the telco.

Read more »

two men in suits with their backs to the camera walk off into a sunset on a city street with one placing his hand on his companion's shoulder as if in a fond gesture.
Communication Shares

Aussie Broadband share price lifts 5% on major management change

The ASX telecommunications company released a significant announcement today.

Read more »