Grady and Perpetual buying Aveo shares while stock price slides

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Aveo CEO Geoff Grady has taken advantage of Aveo’s price slide following the Four Corners aged care TV program, purchasing 90,000 ordinary stapled securities on the market at $2.05 each; they were priced $2.25 the week before the program.

At the same time, Perpetual Investments picked up 5.19% of Aveo’s stock (30,125,362 securities).

In the just-released Aveo Annual Report, Aveo’s chairman (pictured) Seng Huang Lee representing Mulpha, stated: “Aveo has achieved or exceeded all financial and non-financial strategic plan objectives in transition to a pure retirement group”.

In FY18 they made an underlying profit after tax of $127.2M, up 17% while other major retirement operators saw their profits decline significantly over the 12 months.

The net tangible asset value is close to $3.80 per security.

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