Whenever an All Ordinaries Index (ASX: XAO) share announces that its directors, CEO, or insiders have been buying or selling shares in their own company, it is always news that investors like to know.
After all, when an ASX All Ords company sees its own insiders buying up shares, it gives shareholders a lot of confidence that management is putting its money where its mouth is.
Conversely, significant insider selling can undermine shareholders’ confidence in a business, and lead to investor questions about its future.
So today, let’s check out the recent insider trading over at one ASX All Ords share, and see what it can tell us.
3P Learning Ltd (ASX: 3PL) is an All Ords online education company, providing learning products and services to schools, parents, and students.
Its last earnings report was quite an event, with 3P Learning reporting an 18% rise in revenues to $52.6 million for the first half of FY2023, as well as a whopping 205% surge in underlying earnings before interest, tax, depreciation and amortisation (EBITDA) to $5.8 million.
Just last week, the company also updated its full-year guidance for FY2023, revealing an expectation of between $106 and $108 million in revenue for the year, as well as between $15 and $18 million in underlying EBITDA.
So what do we have to report on 3P learning this week?
ASX All Ords share sees director drop $1.2 million
Well, after trading had concluded last Friday, 3P revealed that its non-executive director Craig Coleman had purchased an additional 1.11 million 3P shares between 23 and 30 June 2023 in a series of on-market trades through a fund manager he founded called Viburnum Funds.
Coleman (or Viburnum) paid just over $1.22 million for these trades all up, taking the total shareholding to 53.7 million shares.
So perhaps 3P Learning investors will be buoyed by this news. After all, it does show a significant financial commitment from one of the company’s most prominent insiders. No one could fault Coleman for not putting his money where his mouth is here.
But on the other hand, 3P Learning hasn’t exactly been bringing home the bacon in recent years. 3P shares are down more than 11% over 2023 so far and around 97% lower over the past 12 months. This All Ords share also remains around 5% lower than where it was five years ago, as you can see below:
It will be interesting to see where this All Ords share goes from here.
