The directors and directors of 34 companies on the Spanish Stock Exchange have clicked on the buy button, taking advantage of the falls caused by the fear of omicron. Since November 26, when this version of Covid-19 was declared worrisome by the WHO and the Ibex suffered its worst session since June 2020, they have invested 18.6 million in the shares of the companies they manage, according to the records of the CNMV. And, in most cases, the move has turned out well: the Ibex rises 6.1% from the minimum of 8,247.1 points that it marked at the beginning of December.
Managers of listed companies pulled out the checkbook when fears began to mount. On car day, the Ibex sank 5%. Already in that same session there were purchases by the executives. The greatest effort was made by Juan Manuel González Serna, vice president of Iberdrola, who invested 642,885 euros in the middle of a storm through his company Pastas de La Carolina.
In the days that followed, and until last Friday, renowned directors and executives went shopping. Such as Ramiro Mato, former president of BNP Paribas in Spain and current member of the highest control body of Banco Santander (277,500 euros), Demetrio Carceller, vice president of Ebro (almost 900,000 euros), Pablo Colio, CEO of FCC (902,240 euros), and Óscar García Maceiras, future chief executive of Inditex, next April, when Pablo Isla leaves the presence, with an investment of 102,497 euros.
But, of all the listed companies, the one that received the most purchases from one of its historical shareholders was Fluidra. The Garrigós family, one of the founders of the pool manufacturer, has invested more than 9.1 million euros in various operations through its company Aniol. The stock is up 7% from last month’s lows.
The president of Santander, Ana Botín, also strengthened herself in the bank’s capital on December 15 with the purchase of 500,000 shares that she acquired for 1.33 million and which are now worth more than 1.55 million. He also bought options that bet on the rise of the entity to 3.25 euros per title. The increases in interest rates on long-term debt benefit the financial sector, which pulls the Ibex at the start of 2022.
In PharmaMar, the great investor has been its current vice president, Pedro Fernández, with operations for almost 1.3 million euros through his company Safoles. He bought at an average price of 53 euros per share.
In Corporación Financiera Alba, purchases were made by its first vice president, Juan March de la Lastra, who has invested 1.2 million from 48.26 euros per share. The March family holding company is now trading at around 53 euros. Next in the ranking are the aforementioned directors of FCC and Ebro, followed by the vice-secretary of the board of Grifols, Tomás Dagá Gelabert, who on December 1, through his company Prismiberica, acquired 35,000 shares of the blood derivatives group from 16.22 euros each.
In the real estate Insur, the directors Fernando Pumar López and, especially, Candelas Arranz Pumar have accumulated purchases of shares for 270,000 euros.
In the insurance company Catalana Occidente, its president, José María Serra Farré, and the secretary of the board of directors, Francisco José Arregui Laborda, moved, with an investment that between them amounts to more than 250,000 euros.
There were also significant purchases in the leadership of Repsol (202,493 euros), Renta Corporación (193,200), Metrovacesa (129,151), Special Ingots (111,396), Viscofan (110,600), Miquel y Costas (103,804), Endesa (99,963), Cellnex (87,187), IAG (83,271), Naturhouse (85,931), Talgo (45,420), Ferrovial (37,290) and Faes (33,785 euros).
- Sabadell. The sales, carried out by Inmobiliaria Entorno, were made on November 29, for a total of 1,318 shares of the bank at 0.6 euros per share. This company is jointly managed by María Macarena Aguirre, spouse of the current CEO of the José Nieto de la Cierva bank. Hence, in accordance with the market abuse regulations, it has had to notify the CNMV of the transaction. In this case, waiting would have been more profitable, since the entity’s share is trading 10% higher.
- Fluidra. Javier Tintoré Segura, current financial director of the company, sold 23,000 shares on January 3 at 34.93 euros each. The divestment reached 803,390 euros. There were also sales, but of a much lower amount, by directors or directors of Acciona, Insur and Iberdrola.
George Holan is chief editor at Plainsmen Post and has articles published in many notable publications in the last decade.