Company insiders buy few shares

Frankfurt The most recent quarterly season in Europe went surprisingly well – despite all the crises surrounding impending energy shortages, high inflation and rising interest rates. Eleven companies from the Dax have even raised their annual forecasts. Nevertheless, according to Jürgen Schallmayer, equity strategist at Dekabank, companies have increasingly pointed to a possible “economic slowdown” when presenting their business figures.

Not only their words show that the executive and supervisory boards are cautious, but also a look at their trading activities on the stock exchange. Company insiders bought remarkably few shares in their own companies in August. At the same time, companies reported more insider sales to the financial regulator Bafin.

Olaf Stotz, professor at the private university Frankfurt School of Finance & Management, finds this unusual: “Insiders obviously don’t trust the roast and expect a further decline in the economy – and the stock markets.”