Hargreaves Lansdown

Directors dealings: Redrow non-exec picks up a few shares

Tue 26 September 2017 16:42 | A A A

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(ShareCast News) - Vanda Murray, Redrow's recently appointed non-executive director, picked up a few shares in the company following the recent sharp drop in the stock price.

In particular, she also bought roughly just a couple of weeks after The Steve Morgan Foundation - a charitable trust set up by the company's chairman - hived off 25.9m shares at 590p each.

Murray, who was also the chairman of Fenner, bought 3,500 shares at an individual price of 562p on 26 September, for a total transaction amount of £19,670.

Her purchase also came close on the heels of a downbeat assessment on the sector's outlook out of analysts at Bank of America-Merrill Lynch.

In a research note published on 12 September, the analysts labelled the sector's outlook "uncompelling", pointing to the possibility that the period of incrementally lower rates and readily available financing might be reaching its end, what with the Term Funding Scheme set to be wrapped up from February 2018.

"It is certainly an area of debate. If mortgage rates were to begin to rise, it is likely to slowly begin to squeeze affordability which on a house price to earnings basis is already at peak levels."

Merrill also reminded clients their 'base case' scenario was for a so-called 'hard Brexit'.

Furthermore, trading on a price-to-tangible net asset value multiple of 1.8 the sector's valuation was "uncompelling".

Top Director Buys

Symphony International Holdings Ltd. (SIHL)

Director name: Thadani,Anil

Amount purchased: 500,000 @ $0.84

Value: $419,130.00

Rotork (ROR)

Director name: Lamb,Martin

Amount purchased: 11,599 @ 253.20p

Value: £29,368.67

Redrow (RDW)

Director name: Murray,Vanda

Amount purchased: 3,500 @ 562.00p

Value: £19,670.00

Frontier Developments (FDEV)

Director name: Bevis ,Alex

Amount purchased: 2,000 @ 978.00p

Value: £19,560.00

Amerisur Resources (AMER)

Director name: Jenkins,Christopher (Chris)

Amount purchased: 100,000 @ 17.25p

Value: £17,250.00

Cambian Group (CMBN)

Director name: Butterworth,Mike

Amount purchased: 5,750 @ 200.62p

Value: £11,535.94

Oxford Biomedica (OXB)

Director name: Heath,Andrew

Amount purchased: 110,511 @ 9.05p

Value: £10,001.25

Jupiter Emerging & Frontier Income Trust Red (JEFI)

Director name: Scott,John

Amount purchased: 8,900 @ 109.75p

Value: £9,767.74

Jupiter Emerging & Frontier Income Trust Red (JEFI)

Director name: Dampier,Mark

Amount purchased: 8,156 @ 109.72p

Value: £8,948.96

Jupiter Emerging & Frontier Income Trust Red (JEFI)

Director name: McNair,Audrey

Amount purchased: 7,500 @ 109.76p

Value: £8,232.00

Wyg (WYG)

Director name: Clarkson,Iain

Amount purchased: 10,000 @ 64.50p

Value: £6,450.00

Centrica (CNA)

Director name: Pusey,Stephen

Amount purchased: 1,232 @ 189.90p

Value: £2,339.57

Centrica (CNA)

Director name: Valle,Margherita D.

Amount purchased: 1,043 @ 189.90p

Value: £1,980.66

Rotork (ROR)

Director name: James ,Sally

Amount purchased: 757 @ 253.20p

Value: £1,916.72

Rotork (ROR)

Director name: Davis,Jonathan

Amount purchased: 568 @ 253.20p

Value: £1,438.18

Top Director Sells

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