Baris Erkaya / EXCHANGE ANALYSIS
We always talk about the meaning of Borsa Istanbul for the stock market investor: A stock trading platform that gives the opportunity to invest in a company whose future is trusted, that is, to become a partner. Moreover, if you are not the main shareholder, you do not have any responsibility for the management of the company. All you have to do is to look at the success of the company you bought the shares of and to reveal your expectation about whether it will be managed with the same success from now on, if you are a dividend investor, to determine the expectations about whether it will continue to give regular dividends if you are a dividend investor, and if you are a growth investor, it will help your company grow rapidly. and therefore to analyze whether the price increase will continue. Then sit back and watch the irrational developments in the stock market with a smile in the last few weeks.
THE DIFFERENCE BETWEEN THE SMALL INVESTOR AND THE BOSS
But if you are the main shareholder of a company whose shares are invested in the stock market, the responsibility is many times greater than that. You cannot sit back and watch the latest events. Because there are different kinds of investors who invest in your stocks. Some of them may be those who invest with the intention of buying and selling shares cheaply, dividend investor or growth investor. In other words, it is among your obligations to control whether your stocks are used in manipulative movements in the market. Above all, Borsa Istanbul is the largest and has the highest weight on the index. stocks if they are stocks of your companies.
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For this reason, in the last decline, the bosses of stock exchange companies are also giving a serious test. The main shareholders of some companies reacted very quickly to the fluctuations in the market, responding to the fluctuations in the market value of their companies at every level and gave the message to the investors, “Don’t worry, we are here and we took quick action to prevent you from being harmed by these extreme fluctuations.”
BOSSES SHOWN ON THE PURCHASE SIDE
But let’s examine the positive side of the issue a little bit. In other words, the main shareholder, or boss purchases, which take place in companies that lost value while the bank fell flat, although the banking shares did not rise while the ceiling was rising. More specifically, to the bosses who are on the same side as their junior shareholders.
Exchange We analyzed one by one all the share purchase transactions that took place between September 13, 2022 and September 23, 2022, when the rise in the index with bank shares in Istanbul stopped and the whole market reversed, followed by sharp fluctuations. Except for the market making transactions after the public offering, the number of purchase transactions made by the main shareholders is 72. These transactions took place in the shares of 28 companies in total. The main shareholders (including the shares of their own companies or the shares of their subsidiaries) made 329 million TL buyback transactions in these 28 shares in a total of 72 transactions.
THE STRONGEST PURCHASE IS IN SABANCI HOLDING
So, which stocks saw the most purchases?
The amount of buybacks made at Sabancı Holding amounted to TL 78 million between September 13-19, in the price ranges of TL 26.60-28.33.
It was followed by a buyback in Halkbank stock. With the repurchase of 8.5 million shares at an average price of 8.1877 TL in a single day, the total buyback amount approached 79 million TL.
The main shareholder and manager purchases in Panora REIT reached a total amount of 52 million TL in 3 transactions (in the range of 19.81-23.12).
The main shareholder purchases of İşbank C shares, on the other hand, were over 40 million TL at a price range of 8-8.19 TL in a single day.
The familiar purchases of Kerem Tibuk at Net Holding continued in the fluctuating market and reached 17 million TL in 2 separate days.
The amount of buybacks realized in Şişecam on September 14 is 14 million TL, Leader TourismWe saw a repurchase amount of 13.2 million TL for almost daily purchases in Turkey and 9.7 million TL for purchases made in 7 trading days in MLP healthcare.
BOSS PURCHASES IN DIFFERENT STYLES
As can be seen, the support of the bosses to the boards took place in a single day in the key sessions in which the sales were concentrated in some stocks, while it took place in a few days in some stocks and from almost all levels in some stocks. This is actually a very important detail for the board of a stock. All three types of transactions have very important messages to the buyers and sellers of those stocks. The strong message that strong one-time buybacks give to sellers or short traders in VIOP is that they can turn things around with a strong buy at any time.
Strong purchases made at intervals, on the other hand, have an encouraging effect on the buy-sell balance in stocks. This has a significant impact on decision-making in terms of those who will buy or sell the stock in the next session or the next day after the announcement is made.
Stable purchases made almost every day, on the other hand, ensure that stocks constantly find support during the session, and in a falling market, it stands out as an encouraging detail for the investors of that stock in the long term.
SOME COMPANY SHAREHOLDERS SOLD ALSO WHEN THE MARKET DOWN
Some failed the class. Let alone postponing the stock selling decisions they had made before, at least during these harsh market movements, there were also those who made sudden stock sales decisions. Some of them continued their stock sales, which they had already made for a long time, without losing their agitation. However, some other major shareholders stopped their sales by pressing the “pause” button on the calendar they set a target for sales volume, a stance that can be perceived as an important confidence indicator, at least for the stock market investors of these companies.
BOSS PURCHASE IN 9 OF 9 DAYS AT MARGÜN
From this point of view, to look at the stocks where the main shareholders are most frequently seen in the market, Margün, where the bosses are the buyers in the market in 9 of the 9 trading days between September 13 and September 23. Energy (Esenboğa Elektrik) is undoubtedly the most striking. While Esenboğa Elektrik made a purchase in Margün Energy, it also made a buyback of 3.2 million TL in Esenboğa Elektrik in 3 trading days. The main shareholders were seen as buying side support on the boards in Lider Turizm, MLP Health and Verusa Holding in seven of the 9 trading days during which the fluctuation continued. We have seen the buybacks of bosses or managers in 5 trading days in Gedik Investment, 3 trading days in Gezinomi, Panora REIT, QUO Granite and Sabancı Holding.