Mixed SignalsOne director is buying/holding big time. Another director is leaking stock into the market. Which one to believe? In this case, I would tend to take this as a positive signal. Here is why:
It appears that Ireland liquidated his fund but took a large chunk of his profits in Amerigo shares, that has to be a sign of strong support. He likely is looking at his cash return on investment and with a rising dividend, Amerigo provides a really solid holding. He also would probably be very receptive to the right offer at a good valuation as he has a history of quietly facilitating company.
In contrast, Luzich is probably leaking out stock because he needs to raise cash for other parts of his portfolio. He probably has gotten hammered in tech stocks (he is a west coast guy after all) and needs to offset his losses. If he really wanted to get out of the position, he would likely be hitting the market harder.
My conclusion is that these are positive signs. Ireland likes what he is seeing and is making an aggressive bet on ARG. That trumps Luzich who is leaking out small amount of stock but appears to be trying to save his position.