Director dealings: GoCompare chairman ups stake
Comparison website GoCompare rallied on Tuesday after chairman Peter Wood - the founder of Direct Line, Esure and Sheila's Wheels - snapped up nearly 17.8m shares in the company, lifting his total holding from 25.6% to 29.9%.
Wood said: "My share purchase underlines my view, which is shared by my fellow board members, that the current GoCompare share price does not fully reflect the operational and strategic momentum in the business.
"I'm particularly excited about our weflip brand and the potential opportunities it offers. If we deliver on our wider Savings as a Service strategy it will be brilliant for savers everywhere, reinforcing my decision to increase my holding to 29.9%."
In its preliminary full-year results last week, the company said it plans to invest around £10m in marketing for its energy switching service, weflip. This will be funded by operational cash flow from the core business.
At 1600 GMT, GoCompare shares were up 8.31% to 69.97p.
Top Director Buys
Gocompare.com Group (GOCO)
Director name: Mr Peter Wood
Amount purchased: 17,783,588 @ 63.70p
Value: £11,328,146
Gocompare.com Group (GOCO)
Director name: Mr Peter Wood
Amount purchased: 17,783,588 @ 63.70p
Value: £11,328,146
Jupiter Fund Management (JUP)
Director name: Mr Andrew Formica
Amount purchased: 150,000 @ 368.90p
Value: £553,350
Jupiter Fund Management (JUP)
Director name: Mr Andrew Formica
Amount purchased: 66,173 @ 360.00p
Value: £238,223
Netcall (NET)
Director name: Mr James Ormondroyd
Amount purchased: 100,000 @ 32.90p
Value: £32,900
Netcall (NET)
Director name: Mr Henrik Bang
Amount purchased: 100,000 @ 32.90p
Value: £32,900
Templeton Emerging Markets Inv Trust (TEM)
Director name: Mr David Graham
Amount purchased: 4,141 @ 747.00p
Value: £30,933
Verona Pharma (VRP)
Director name: Mr David Ebsworth
Amount purchased: 43,800 @ 57.00p
Value: £24,966
Top Director Sells
WANdisco (WAND)
Director name: Mr David James Richards
Amount sold: 85,266 @ 524.08p
Value: £446,862
Sage Group (SGE)
Director name: Mr Steve Hare
Amount sold: 30,436 @ 667.73p
Value: £203,230
Sage Group (SGE)
Director name: Mr D. Blair Crump
Amount sold: 11,026 @ 667.73p
Value: £73,624
Cranswick (CWK)
Director name: Mr Martin T P Davey
Amount sold: 618 @ 2,514.25p
Value: £15,538
WANdisco (WAND)
Director name: Dr Yeturu Aahlad
Amount sold: 2,587 @ 524.08p
Value: £13,558