Insider Trades: 10 ASX 200 directors bought and sold these stocks last week

About this update from Ebos Group Limited

Welcome back to the Insider Trades series – a weekly summary of on-market ASX 200 director transactions valued at more than $10,000. The below trades have all taken place between 18 and 24 September 2025. Directors have up to 5 business days to notify the ASX of their trades. Insider trading activity dropped sharply last week, breaking a streak of elevated transaction volumes since the end of August reporting season. The underlying catalyst remains unclear, though it may reflect caution amid all-time market highs and stretched valuations. Top ASX 200 Insider Buys Code Company Date Director Type Price Value NHC New Hope Corporation 23/09/25 Robert Millner Buy $422.24 $10,556,104 GQG GQG Partners 23/09/25 Rajiv Jain Buy $1.69 $845,114 GQG GQG Partners 22/09/25 Rajiv Jain Buy $1.67 $776,479 GQG GQG Partners 19/09/25 Rajiv Jain Buy $1.68 $503,948 GQG GQG Partners 18/09/25 Rajiv Jain Buy $1.68 $469,016 EBO Ebos Group 23/09/25 Elizabeth Coutts Buy $29.30 $87,903 ALL Aristocrat Leisure 19/09/25 Natasha Chand Buy $68.74 $44,953 ANN Ansell 24/09/25 Debra Goodin Buy $33.38 $29,608 EBO Ebos Group 22/09/25 Stuart McLauchlan Buy $29.20 $29,200 IEL Idp Education 19/09/25 Colin Stirling Buy $5.50 $22,000 KAR Karoon Energy 22/09/25 Melissa Holzberger Buy $1.58 $19,999 Interesting takeaways New Hope: Soul Patt's Chairman Robert Millner purchased 25,000 shares worth approximately $10.5 million, though this represents just a drop in the ocean given he beneficially owns around 6.28 million shares. New Hope rallied 5.0% on its FY25 result (16 Sep), where earnings largely met analyst expectations but the 15 cent dividend beat the 11 cent consensus. The company outlined a growth path in its presentation, though FY26-28 numbers came in slightly softer than market expectations. Macquarie downgraded the stock to Underperform, noting that "whilst we see merit in a yield maximisation strategy," concerns centre on a weaker production and earnings outlook. Ebos: Non-Executive Chairman Elizabeth Coutts lifted her stake by approximately 1.6% to 183,296 shares. Ebos is trading at its lowest level since early 2021 after dropping 14.6% on its FY25 result (27 Aug). While results were broadly in line with expectations, FY26 EBITDA guidance came in 4% below consensus. Excluding acquisitions, this represents 3% year-on-year underlying growth versus Macquarie's 8% estimates. GQG Partners: Chief Investment Officer Rajiv Jain continues accumulating shares through QVFT LLC, an entity he controls alongside GQG's parent organisation. Top ASX 200 Insider Sells Code Company Date Director Type Price Value WTC Wisetech Global 18/09/25 Richard White Sell $96.76 $50,228,116 REA REA Group 18/09/25 Owen Wilson Sell $231.73 $695,203 Interesting takeaways Wisetech: Executive Chairman and founder Richard White continues offloading shares, selling $170 million over the past three weeks. The move aligns with his ongoing reduction in ownership, which stands at approximately 38.1% as of August 2025. It's also consistent with his recent transition to a Chairman position and the appointment of new CEO Zubin Appoo. As White stated in 2024, he seeks to make "small daily trades in a very orderly way" to provide market liquidity. REA Group: CEO Owen Wilson has sold approximately $3 million worth of shares this month, an unsurprising divestment given his plans to retire from full time executive roles. At REA's FY25 results, the company appointed Cameron McIntyre as CEO effective 3 November 2025. McIntyre has been Managing Director and CEO of CAR Group for the past nine years.

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