- Entain directors go on a spending spree
- Marks & Spencer director finds stock attractive
- New Keywords director buys £67,000 shares
Chairman John Gibson of global sports betting and gaming group Entain (ENT) has bought 93,664 shares at 929p for a total value of £869,951 on 7 November.
CEO Jette Nygaard-Andersen has bought 35,000 shares at 927p for a total value of £324,559 along with non-executive directors Stella David and Rahul Welde who bought 95,025 at 945p at a total value of £897,986 and 21,644 at 924p for a total value of £199,991 respectively on 7 November 2023.
Welde didn’t have any shares prior to this dealing.
Entain directors now hold in aggregate 665,682 shares equivalent to 0.104% of the company’s issued share capital.
The purchases could be viewed as a vote of confidence after Entain recently delivered a strong third quarter update for the period of 1 July to 20 September 2023.
Entain saw a 26% increase in active customers year-on-year and said it had ‘undergone a significant transformation over the last three years.’
However, year-to-date the Ladbrokes owner’s shares haven’t done that well falling nearly 30%.
MARKS & SPENCER DIRECTOR SNAPS UP STOCK
Cheryl Potter, non-executive director of Marks & Spencer (MKS) has bought 50,000 shares at 247p for the total value of £123,500 on 8 November.
Potter’s move is unsurprising considering Marks & Spencer’s first half results on 8 November which saw pre-tax profits jump 75% and the shares rise 9.5% on the news.
Marks & Spencer’s CEO Stuart Machin said the company’s strategy was on track for Christmas but remained cautious for the second half of the year.
Potter’s purchase perhaps expresses confidence that the FTSE 100 shopkeeper’s strategy is finally working.
Marks & Spencer shares are up 92% year-to-date at the 243p mark.
KEYWORD STUDIOS DIRECTOR BUYS OVER £67,000 SHARES
Donald Robert, non-executive director of outsourced service provider to the global gaming industry, Keyword Studios (KWS:AIM) has bought 4,849 shares at £13.87 for the total value of £67,256 on 8 November.
Robert was appointed to the board of Keyword Studios in January 2023. Keywords is one of the most successful companies to float on AIM, growing from a £50 million market valuation in 2013 to its current £1 billion.
Keywords has built a strong competitive position by consolidating a fragmented market and is more than three times the size of its nearest competitor according to broker Numis.
First-half results published on 12 September saw a 19% increase in revenue (10% organic) while adjusted operating profit was 5% ahead.
Keyword Studios’ shares have fallen 50% year-to-date and sit nearly 60% below thier August 2021 highs.
