A clutch of sellers dominated directors' trades this week, led by Stephen Killelea, the chairman of Integrated Research.
The company, which provides performance management software, suddenly got a wriggle on early this year when it said earnings would substantially improve for the December half-year.
The re-rating of the shares was further helped by full-year earnings growth of 68 per cent.
The share price has ranged from 92¢ this year to as high as $2.80.
Mr Killelea, the founder and one-time managing director, peeled off about 5 per cent of his stake with Bell Potter handling the business.
He said he would be reducing his involvement in business during the next five years and spending more time on philanthropic interests.
Mr Killelea said he did not plan to sell any more shares for at least a year.
The buyers are slightly ahead of the game as the shares are now fetching $2.64, compared with a $2.50 sale price.
Meanwhile, the scorecard registered $4.5 million to $23.2 million in favour of sellers.
Also assisting the sellers' tally was Dennis Punches, a non-executive director of Collection House, a debt collection and receivables management concern.
Mr Punches has sold upwards of $6 million of Collection House scrip in recent weeks, cutting his stake about 62 per cent.
Among buyers, various directors of TFS Corporation added to their holdings.
Frank Wilson, the managing director of the Indian sandalwood group, headed the list while various others bought, including Michael Kay, former McMillan Shakespeare mastermind.
Metcash shares have been weak in recent times, hitting a 96¢ low last month.
Ian Morrice, who has been in the chief's chair for a little more than two years, had plenty of incentive paper but few shares.
That has now been put right somewhat, after his decision to buy 180,000 shares on the market at $1.06 a share.
He's doing OK: yesterday they were fetching $1.27.
