Director dealings: System1 CEO lowers stake
System1 founder and chief executive John Kearon sold 358,974 ordinary shares in the AIM-listed marketing research and advertising company.
Kearon, who launched System1's predecessor BrainJuicer back in 2001, disposed of the shares at an average price of 195p, for a total value of £699,999.32.
System1's CEO now holds 2.96m shares in the group, representing 23.6% of the company's voting share capital.
Analysts at Canaccord Genuity left their forecasts for System1 unchanged earlier this month following the release of the firm’s interim results.
With System1 trading in line with its recent trading update, and with profit expectations well underpinned by tight cost control, along with investment in more scalable and lower cost products and services, the Canadian broker reiterated its ‘buy’ rating and 400p price target.
Canaccord said System1 revenues were set to “stabilise” in its next financial year, noting that it should then return to growth in 2020 as it responds to the redesign of its product offerings.
As of 1640 GMT, System1 shares had soared 20% to 234p.
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Director name: Kearon,John
Amount sold: 358,974 @ 195.00p
Value: £699,999.32