Merchant buys more Billabong shares

Billabong founder and board member Gordon Merchant continues to buy more shares of the company, including purchasing 4.2 million shares this week.

Gordon spent AUD $2.6 million on his most recent purchase, and now owns 104.9 million shares.

Billabong recently reported improved results for the fiscal year ended June 30.

Billabong’s stock is currently trading at 64 cents.