Guess how much one insider spent on this ASX 100 share in the past week

Young woman sitting on nice furniture is pleasantly surprised at what she's seeing on her laptop screen.Young woman sitting on nice furniture is pleasantly surprised at what she's seeing on her laptop screen.

Rebounding from last week’s losses, the ALS Ltd (ASX: ALQ) share price is heading north on Monday.

At the time of writing, the testing services company’s shares are swapping hands at $10.36, up 1.97%.

For context, the S&P/ASX 200 Index (ASX: XJO) is 0.97% higher following a strong finish by Wall Street on Friday.

ALS insider buying action continues

In light of the recent slump, the company’s non-executive director, John Mulcahy recently took advantage of ALS’s share price weakness.

In a statement to the ASX, the company advised that Mulcahy purchased 25,000 ALS shares at a price of $10.276 apiece. This was conducted via an on-market trade on 14 July by Mulcahy’s indirect interest, Juntos Investments Pty Ltd.

The transaction equates to the value of $256,900.

Following the latest purchase, this means that Mulcahy now holds a total of 79,027 ALS indirect shares across his holdings.

The buy-in comes after another insider, non-executive Leslie Desjardins, picked up 6,800 ALS shares in late May.

It seems that some members of the board believe that ALS shares are trading at bargain levels for the moment.

It is worth noting that the ALS share price touched a 52-week low of $9.96 on 13 July before slightly recovering lost ground today.

This is a sharp contrast from when it was trading at a year-to-date high of $13.76 on 5 April.

ALS share price summary

Despite today’s gain, the ALS share price has fallen by 17% in the past 12 months.

In 2022, its shares are down 20%.

Based on today’s price, ALS presides a market capitalisation of approximately $4.92 billion.

The post Guess how much one insider spent on this ASX 100 share in the past week appeared first on The Motley Fool Australia.

Should you invest $1,000 in Als Ltd right now?

Before you consider Als Ltd, you’ll want to hear this.

Motley Fool Investing expert Scott Phillips just revealed what he believes are the 5 best stocks for investors to buy right now… and Als Ltd wasn’t one of them.

The online investing service he’s run for over a decade, Motley Fool Share Advisor, has provided thousands of paying members with stock picks that have doubled, tripled or even more.* And right now, Scott thinks there are 5 stocks that are better buys.

See The 5 Stocks
*Returns as of July 7 2022

(function() {
function setButtonColorDefaults(param, property, defaultValue) {
if( !param || !param.includes(‘#’)) {
var button = document.getElementsByClassName(“pitch-snippet”)[0].getElementsByClassName(“pitch-button”)[0];
button.style[property] = defaultValue;
}
}

setButtonColorDefaults(“#43B02A”, ‘background’, ‘#5FA85D’);
setButtonColorDefaults(“#43B02A”, ‘border-color’, ‘#43A24A’);
setButtonColorDefaults(“#fff”, ‘color’, ‘#fff’);
})()

More reading

Motley Fool contributor Aaron Teboneras 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.

from The Motley Fool Australia https://ift.tt/AqfM4Nu

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s