It was announced on Thursday that automotive billionaire Nick Politis had purchased another 100,000 shares of the ASX-listed Eagers Automotive – the country’s largest car dealer – and where the Sydney Roosters chairman is the biggest shareholder by some margin.
It’s safe to assume Politis was spurred to action after sensing another bargain buying opportunity. Last week, Eagers’ share price plunged 19 per cent after the company issued a profit warning for the June half.
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Mark Di Stefano is Rear Window columnist, based in the Sydney newsroom. He previously worked at BuzzFeed, the Financial Times and The Information before joining the Financial Review as a media and tech correspondent. Connect with Mark on Twitter. Email Mark at mark.distefano@afr.com
