Director dealings: Man Group's new CEO shows confidence in stock

26th Oct 2016 15:55

(ShareCast News) - Man Group's new chief executive Luke Ellis has bought almost £0.63m of shares in the hedge fund manager on top of pocketing options worth another £1.56m.Ellis, the group's former investment chief who was promoted to the top role at the beginning of September, took delivery of 1.24m shares for free thanks to the share options scheme, and then parted with some cash to buy 500,000 at an average price of 125.71p.Taking over the tiller when previous Man boss Manny Roman departed to become CEO at investment manager Pimco, Ellis oversaw his first set of quarterly results last week.Helped by news of a share buyback and an acquisition, these numbers sent the shares surging, with a 6% improvement in funds under management to $80.7bn, with net inflows of $1.3bn supported by demand from institutional investors.Man also announced an agreement to acquire US and Europe based real asset manager Aalto Invest, which Ellis said should be accretive to earnings per share from 2017 onwards and will be "instrumental" in the development of Man Global Private Markets, the group's new private markets capability."In line with our strategy to continue to diversify the firm and our offering for clients, this private markets capability is complementary to our broad offering in liquid strategies." Top Director BuysMan Group (EMG)Director name: Ellis,Luke Amount purchased: 500,000 @ 125.71pValue: £628,558.99Blackrock World Mining Trust (BRWM)Director name: Edey,RussellAmount purchased: 13,000 @ 326.00pValue: £42,380.00Old Mutual (OML)Director name: Nyembezi-Heita,NonkululekoAmount purchased: 5,477 @ 200.10pValue: £10,959.48Blackrock Throgmorton Trust (THRG)Director name: Beart,SimonAmount purchased: 158 @ 330.00pValue: £521.40Blackrock Throgmorton Trust (THRG)Director name: Beart,SimonAmount purchased: 147 @ 330.00pValue: £485.10Standard Life (SL.)Director name: Matthews,PaulAmount purchased: 66 @ 343.00pValue: £226.38Blackrock Throgmorton Trust (THRG)Director name: Latymer,LordAmount purchased: 46 @ 330.00pValue: £151.80Standard Life (SL.)Director name: Savage,LukeAmount purchased: 43 @ 343.00pValue: £147.49Top Director SellsGw Pharmaceuticals (GWP)Director name: Tovey,Christopher JohnAmount sold: 266,556 @ $10.06Value: $2,260,235.96Gw Pharmaceuticals (GWP)Director name: Guy,GeoffreyAmount sold: 206,100 @ 843.00pValue: £1,737,423.06Gw Pharmaceuticals (GWP)Director name: Guy,GeoffreyAmount sold: 125,000 @ 809.00pValue: £1,011,250.02Gw Pharmaceuticals (GWP)Director name: Guy,GeoffreyAmount sold: 68,900 @ 824.00pValue: £567,735.98Purplebricks Group (PURP)Director name: Kavanagh,David Amount sold: 69,500 @ 132.23pValue: £91,899.85Gw Pharmaceuticals (GWP)Director name: Gangolli,JulianAmount sold: 3,612 @ $10.06Value: $30,627.61Gw Pharmaceuticals (GWP)Director name: Wright,StephenAmount sold: 1,556 @ 810.00pValue: £12,603.60