We take a look at directors buying and selling shares in their own company in our weekly column.
- ITM Power directors buy shares
- Non-exec buys Hays shares
- Non-exec Chairman buys shares in Keystone Law
Here’s why Director Dealings can play an important role in stock-picking
ITM Power directors buy shares
ITM Power LON:ITM CEO, Dennis Schulz has purchased 5,800 shares in the company at a price of 79.56p per share for a total consideration of £4,614. CTO, Dr Simon Bourne has also purchased 6,329 shares at a price of 78.99p per share for a total cost of £4,999.
Full year numbers out last month showed revenues of £5.2m, down from the £5.6m posted a year ago but well up on the £2m forecast. However, EBITDA losses came in at the top end of guidance.
Looking ahead, FY24 revenues are expected to be in the £10-£18m range and the company should remain well funded with around £200m cash in hand. The turn around plan appears to be advancing well and with more product leaving the ITM factory over the last six months than was seen in the previous 22 years.
The ITM Power share price was trading at 78.21p at the time of writing, down 19% this year and down 29% over the last 12 months.
Non-exec buys Hays shares
Hays LON:HAS Non-Executive Director, Zarin Patel has purchased 11,653 shares in the company at a price of 102.4p per share for a total consideration of £11,932.
The FTSE 250 recruitment business posted final results last month with fees for the year up 6%, driven by an increase in fee margins, supported by the positive effects of wage inflation globally and offsetting the volume decline as Perm markets toughened through the year.
The Hays share price was trading at 103.3p today, down 13.3% this year and down 11.4% over the last 12 months.
Non-exec Chairman buys shares in Keystone Law
Keystone Law LON:KEYS Non-Executive Chairman, Robin Williams has purchased 1,500 shares in the company at a price of 488p per share for a total consideration of £7,320. In addition, Non-Executive Director, Salar Farzad has purchased 2,050 shares at a price of 490p per share for a total cost of £10,045. This follows the release of half year results for the AIM listed law firm which saw revenue up 14.9% to £42.3m and profit before tax up 29.3% to £5.3m.
The results noted that “Recruitment market conditions have moved in the Group’s favour, with the Keystone model continuing to attract high-calibre talent” with full year results set to come in “comfortably ahead of current market expectations”
Keystone Law shares were trading at 487.84p, up 13% this year and down 4% over the last 12 months.
