We take a look at directors buying and selling shares in their own company in our weekly column.
- Man Group non-exec buys shares
- CEO buys RS Group shares
- Abrdn non-exec buys shares
Here’s why Director Dealings can play an important role in stock-picking
Man Group Non Executive Director buys shares
Man Group LON:EMG Non-Executive Director, Anne Wade has acquired 14,000 shares in the company at a price of 204.20p per share for a total consideration of £28,588. We have recently added Man Group to our short term portfolio, which you can sign up to through our Armchair Trader Plus service. Regular readers of The Armchair Trader will know that our Editor, Stuart Fieldhouse is a big fan of the private credit sector, especially in the UK. Man Group has been exhibiting some very strong financial performance indicators as CEO Luke Ellis hands over the reins to Robyn Grew, but it is also adding to its private credit muscle within its existing private markets division. I suspect this will help to beef up its profit margins yet further as more institutional investors buy into private credit.
Man Group shares were trading at 202.5p at the time of writing, down 8% this year and -18% over the last 12 months.
- Murray International: mega-cap technology and dividend investing
- FTSE 100 at the close: RS Group, Barclays, Smiths
CEO buys RS Group shares
RS Group LON:RS1 CEO, Simon Pryce has purchased on 18th August, 14,500 shares in the company at a price of 688p per share for a total cost of £99.760. This came on the same day that broker UBS downgraded the FTSE 100 business from “buy” to “neutral” and lowered its target price from 1250p to 800p. This downgrade has been influenced by UBS’s projection of a more substantial “unwind” in the company’s profits. Recent data indicates a weakening of markets and a reversal of share gains. UBS foresees a period marked by sustained negative organic growth and margin pressure for the company.
RS Group shares were trading at 724.6p, down 19% this year and 35% over the last 12 months.
Abrdn Non Executive Director buys shares
Abrdn LON:ABDN non executive director, Jonathan Paul Asquith has purchased 52,150 shares at a price of 162.33p per share for a total consideration of £84,655. The FTSE 100 asset manager released half year results earlier this month which showed net operating revenue 4% higher at £721m and adjusted operating profit was up 10% to £127m. The interactive investor acquisition last year has increased the revenue diversification of the business and put it on a “stronger trajectory of growth with more efficient operating margins and clear opportunities for the future”. However, the update did acknowledge the uncertain global market conditions with “Net operating revenue in Investments is 15% lower at £466m due to lower average AUM and net outflows, particularly in equities as client asset allocation moved to debt products and cash in the rising interest rate environment.”
Abdrn shares were trading at 161.95p, down 14% this year but up almost 7% over the last 12 months.
