3 directors have been buying up over $1 million of this ASX 200 share in the past week

When a director of an ASX 200 share is buying up their own company hand over fist, it’s probably worth at least a look. That is the situation with ASX fast food share Dominos Pizza Enterprises Ltd (ASX: DMP) right now.

Domino’s Pizza shares have had a pretty horrible year. The company has fallen a nasty 53.2% year to date and is down an even nastier 65% or so from its September 2021 all-time high of $133.67. Today, the company is asking $57.44 at the time of writing, up 0.31% for the day.

And yet, we know that at least some Domino’s directors have been loading the proverbial boat with shares at these prices. Just yesterday, we found out from an ASX notice that director Uschi Schreiber bought 273 Domino’s shares on 2 September, and a further 257 shares on 3 November.

These tranches were purchased at an average price of $61.99 and $54.04 respectively, bringing Schreiber’s total share count to 2,030.

Domino’s directors buy up their own shares with gusto

On that same day, we also found out that fellow director Donal Meij was also loading up. Meij bought four tranches of Domino’s shares between 3 and 8 November. These were purchased between $53.84 and $57.46 per share. The new shares added up to a total of 17,968 shares, meaning Meij now owns 1.26 million direct shares in the company.

To make things even more interesting, on November 8, we also discovered that another director in Tony Peake added 1,600 shares to his superannuation fund. Peake paid an average of $53.71 for 1,600 new shares bringing his funds’ total to 2,600 shares. His wife owns a further 1,400 shares.

So we can conclude with relative certainty that multiple directors of Domino’s reckon the company is looking cheap at the recent pricing. If that’s not a vote of confidence in their own company, I don’t know what is.

At the current Domino’s Pizza share price, this ASX 200 fast food share has a market capitalisation of $4.97 billion, with a dividend yield of 2.72%.    

The post 3 directors have been buying up over $1 million of this ASX 200 share in the past week appeared first on The Motley Fool Australia.

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Motley Fool contributor Sebastian Bowen 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 recommended Dominos Pizza Enterprises Limited. 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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