OrotonGroup boardroom comes out to buy

The scrip fell from $2.71 to as low as $2.42 on the news that pre-tax earnings fell 48 per cent to $4.2 million and that "modest" earnings before interest and tax growth was forecast for the current half year.

The reaction in the group's boardroom was to come out and buy the stock.

The day after the result turnover in the shares was relatively heavy and it turned out that most of the board bought 93 per cent of the volume.

Heading the list was long-term director William Vicars, a non-executive director, who is the chief investment officer at Caledonia, a privately-owned fund manager originally set up to manage Darling family money.

OrotonGroup was a wonderful stock market performer between 2006 and 2011, improving from under $2 to $9.50 or thereabouts.

But the magic disappeared and Vicars, Ross Lane, chairman John Schmoll and managing director Mark Newman have just outlaid $3.4 million no doubt in the hope that the worst is behind the brand.

That support helped the overall buying tally which totalled $5.8 million for the week, compared with nearly $14 million for directors doing some selling.

Vicars was also active in Grays eCommerce Group which bills itself as the largest listed e-commerce retail group on these shores.

The scrip has weakened since the results were released and chairman Vicars' interests bought shares.

Elsewhere on the beaten-up stock front, Jean Baderschneider, a former ExxonMobil staffer, went where many others feared to tread and opened her account in Fortescue.

Andrew Clifford headed the sellers' list with some very profitable option exercising and selling.

Various directors of the fund manager have disposed of more than $20 million of stock this year.