It’s been a relatively quiet week for director deals with little in the way of buying or selling, but two companies in particular have seen notable activity after surges in their share price.
One such company is FTSE 250 building products firm Grafton (GFTU). Chief executive Gavin Slark has sold £2.15 million worth of shares in the group, at a price of £11.98 each, after results last week that lifted the stock.
The firm, known for its Selco brand, expects profits to beat forecasts after a bumper March and April which helped revenues in the period between 1 January and 18 April to rise 32.9% to £846.8 million, and expects full year operating profits to be 15-20% higher than consensus forecasts of £206 million.
Grafton shares surged over 8% following the update, after which Slark sold the shares along with chief financial officer David Arnold, who sold £167,000 worth at a price of £11.93 each.
TREMOR INTERNATIONAL BOSSES SELL DOWN
Digital advertising company Tremor International (TRMR:AIM) has had an incredible run recently with its shares rising almost six-fold in under a year, from around 128p to over 740p, as it reports remarkable growth.
For example, in the first quarter of 2021 Tremor expects to report net revenue between $55 million and $60 million, an increase of 71%-87% compared to the $32.1 million reported in the first quarter of 2020, and adjusted earnings of $25 million to $28 million, an increase of 46-51 times compared to the $500,000 reported in the same period last year.
Given the stock now trades on a 12-month forward price-to-earnings ratio of 31 times with expectations significantly raised, perhaps it’s no surprise two of its top bosses have decided to cash in some of their shares.
Chief executive Ofer Druker has sold around £3.7 million worth of shares in total over the past week at a price of 720p each, while chief operating officer Yaniv Carmi has offloaded just under £1.4 million worth at the same price.
OTHER DEALS
Roy Sayers, non-executive director at filtration expert Filta (FLTA:AIM), sold 1.2 million shares at 140p each in a deal worth £1.7 million. Sayers retains 8.5 million shares, a 29.2% stake.
John Rogers, chief financial officer of advertising firm WPP (WPP), sold over 31,600 shares at a price of 990p each in a deal worth around £310,000.
For a full list of the week’s most significant trades, click here.
