We take a look at directors buying and selling shares in their own company in our weekly column.
- Non-exec buys Rio Tinto shares
- GB Group CFO purchases 10,000 shares
- Serica Energy non exec buys shares
Here’s why Director Dealings can play an important role in stock-picking
Non exec buys Rio Tinto shares
Rio Tinto LON:RIO Non-Executive Director, Simon Henry has purchased 500 shares at a price of 5,220.82p per share for a total consideration of £26,104. The FTSE 100 mining and metals company published full year results back in February that were marginally weaker than consensus estimates, with earnings down over the year due to declines in its key commodities. An update on free cash flow guidance for 2023 noted it expects to come in at the bottom end of its previous $8.0bn to $9.0bn range.
At the time of writing, shares are trading at 5,023p, down 13.3% for the year to date and -11.3% over the last 12 months.
GB Group CFO purchases 10,000 shares
GB Group LON:GBG Chief Financial Officer David Ward has purchased 10,000 shares at a cost of 305p per share for a total consideration of £30,500. The identity verification, location intelligence and fraud prevention company released a trading update last week confirming it will deliver its full year results in line with the trading update provided in February. GB Group expects reported revenue to be £278.8 million (£242.5m), representing growth of 15.0%.
Shares were trading at 319.20p, down 1.67% for the year to date and -47% over the last 12 months.
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Serica Energy non exec buys shares
Serica Energy LON:SQZ Non Executive Director, Jérôme Schmitt has purchased 9,100 shares at a price of 231.40p per share for a total consideration of £21,057. The AIM listed upstream oil and gas company with operations in the UK North Sea released full year results earlier this month with operating profit coming in at £476.2 million (2021: £246.1 million) and a full year total dividend of 22p per share. This comes against a backdrop of taxation from the government in light of higher energy prices with Chairman, Tony Craven Walker who is standing down this year, suggesting taxes have “impacted the smaller companies disproportionately far more than the international companies.” The hope is that “the Government will review its current policy and derive a new basis upon which companies like Serica can thrive and show the innovation which is needed to bring the full benefit of offshore resources to the UK.”
If that were to happen, this stock could be one to watch.
Shares were trading at 243.81p today, down 10% for the year to date and -34% over the last 12 months.
