Director dealings: Polar Capital co-founder lowers stake

Polar Capital co-founder Brian Ashford-Russell disposed of 250,000 ordinary shares in the AIM-listed investment manager on Thursday, lowering his stake to a total of 5.52% of the company's issued share capital in the process.

Ashford-Russell, who helped set up the firm back in 1996, sold the shares at an average price of 485p, for a total value of £1,212,499.98.

Back in December, analysts at Peel Hunt named Polar Capital as one of 29 companies it believes will double in value in the next two to three years.

In its “Stock Ideas for 2019: Doublers” note, Peel Hunt conceded that although it was difficult to predict how Brexit would affect markets, it added that there was "always some stocks that are dancing to their own particular tune which could deliver some healthy returns."

As of 1640 GMT, Polar Capital shares had slipped 3.69% to 470p.

Top Director Buys

F&c Investment Trust (FCIT)
Director name: Bone,Roger
Amount purchased: 150 @ 663.77p
Value: £995.66

F&c Investment Trust (FCIT)
Director name: Hewitt,Jeffrey
Amount purchased: 75 @ 663.77p
Value: £497.83

F&c Investment Trust (FCIT)
Director name: Knapp,Edward
Amount purchased: 15 @ 663.77p
Value: £99.57

Top Director Sells

Polar Capital Holdings (POLR)
Director name: Ashford-Russell,Brian J D
Amount sold: 250,000 @ 485.00p
Value: £1,212,499.98