LONDON (SHARECAST) - Chris Cole, the non-executive Chairman at plant-hire group Ashtead, raised his stake in the firm on the same day that the company revealed it would beat its initial forecasts for the full year.
Cole purchased 30,000 shares of the FTSE 250 firm at 315p each for a total of £94,500. The transaction brings his total shareholding to 132,082, equal to 0.02% of the issued share capital.
Ashtead saw shares jump nearly 12% on Tuesday after saying that full-year results will be "materially ahead of our previous expectations".
Underlying profit before tax in the first quarter rose 82% year-on-year while underlying revenues gained 21%.
"Given this early stage of the recovery, we see further outperformance from re-rating as well as scope for further positive earnings surprises," said analyst Andrew Nussey from Peel Hunt.
Top Director Buys
Ashtead Group (AHT)
Director name: Mr Christopher Cole
Amount purchased: 30,000 @ 315.00p
Paddy Power (PAP)
Director name: Mr William Reeve
Amount purchased: 1,000 @ € 55.87
Value: € 55,870
Innovation Group (TIG)
Director name: Mr Jane Hall
Amount purchased: 125,000 @ 20.00p
Pathfinder Minerals (PFP)
Director name: Mr Nicholas Trew
Amount purchased: 2,300,000 @ 0.85p
Top Director Sells
EMIS Group (EMIS)
Director name: Mr Phillip Woodrow
Amount sold: 1,000,000 @ 700.00p
AZ Electronic Materials SA (DI) (AZEM)
Director name: Mr Mike Powell
Amount sold: 29,393 @ 312.00p