Guess which ASX 300 share has been bought up by 3 directors this week

three businessmen high five each other outside an office building with graphic images of graphs and metrics superimposed on the shot.three businessmen high five each other outside an office building with graphic images of graphs and metrics superimposed on the shot.

S&P/ASX 300 Index (ASX: XKO) tech share Dicker Data Ltd (ASX: DDR) has been struggling in recent months.

It’s fallen 38% since this time last year. Not to mention, it was trading at a more-than-two-year low of $7.88 earlier on Tuesday.

But insiders at the tech company appear to be confident in its future. Indeed, they forked out a combined $376,000 to snap up handfuls of its stock this week.

Let’s take a look at all the director buying going down with the embattled ASX 300 computer parts and software distributor’s stock.

Insiders stock up on shares in ASX 300 tech outfit Dicker Data

Directors were snapping up shares in Dicker Data left, right, and centre on Tuesday amid the ASX 300 share’s new 52-week low.

Getting the best deal was executive director and chief information officer Ian Welch, who bought 10,000 shares for $7.90 apiece. That marks a total of $79,000.

Executive director and chief financial officer Mary Stojcevski also acquired a sizeable parcel. She bought 7,000 shares in the tech outfit for $8 apiece – a total of $55,300.

Finally, joining in on the buying action was executive director and chief operating officer Vladimir Mitnovetski, who bought 30,000 of the company’s stocks for an average price of around $8.06 apiece.

That saw Mitnovetski handing over the most cash for their bolstered stake – a grand total of $241,900.

The barrage of director buying came just one day after the ASX 300 tech company posted its full-year earnings, detailing rising revenue but slightly lower profits.

The market sent the stock tumbling on its results despite Mitnovetski forecasting a “prosperous” year to come.

The Dicker Data share price plummeted 3.4% on Monday, dipping to its new multi-year low on Tuesday before returning to the green.

Right now, the tech share has fallen 17% year to date to trade at $8.46 at the time of writing. Meanwhile, the ASX 300 has lifted 4% so far this year.

The post Guess which ASX 300 share has been bought up by 3 directors this week appeared first on The Motley Fool Australia.

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Motley Fool contributor Brooke Cooper has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Dicker Data. The Motley Fool Australia has positions in and has recommended Dicker Data. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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