Another week of directors buying and selling shares in their respective companies has seen some rather notable trades, including a few who have decided to cash in ahead of the Easter bank holiday weekend.
One of the most sizeable deals involves Alex Dacre and Charles Skinner, chief executive and non-executive director respectively at safety inspection and compliance business Marlowe (MRL:AIM).
Dacre sold 440,000 shares at a price of 690p each in a deal worth just over £3 million, while Skinner sold 300,000 shares at the same price to net around £2 million.
MARLOWE SHARES ON A ROLL
Marlowe shares have been on a roll in the past year and now are changing hands well above their pre-pandemic level at around 723p.
The company recently raised its guidance for operating profits for the year ending in March and has set itself an ambitious growth target.
Thanks to strong second-half trading, the group expects earnings before interest, taxes, depreciation and amortization (EBITDA) to be ‘at the top end of current market expectations’. Market forecasts range from £23.6 million to £26.3 million.
Meanwhile at its Capital Markets Day for investors, the company revealed its new aim is to generate annual revenues of £500 million and EBITDA of £100 million over the next three years, thanks to organic top-line growth and acquisitions.
GYM GROUP FOUNDER SELLS DOWN
John Treharne, founder director of low cost gym operator Gym Group (GYM:AIM), has sold 500,000 shares in the business at a price of 252p each, in a deal worth just over £1.25 million. Following the sale, Treharne retains 2.1 million shares.
The sale comes with gyms in England and Scotland still closed due to coronavirus restrictions, and not set to reopen until 12 April for England and 26 April for Scotland.
Gym Group shares have recovered strongly from their March lows but still trade significantly below pre-pandemic levels, with its revenue in 2020 halving and the firm falling to a big loss as a result of lockdowns.
OTHER DEALS
Other notable deals include John Rogers, chief financial officer of advertising firm WPP (WPP), who recently bought around 43,000 shares at a price of 925p each, in a transaction totaling just under £400,000.
Meanwhile a group of directors, including chief executive William Hindmarch, at car competition firm Best of the Best (BOTB:AIM), have sold £60 million worth of shares in a secondary placing, in an effort to boost liquidity in the stock.
For a full list of the week’s most significant trades, click here.
