Director dealings: Restore chief buys-in even after after share price gets shredded

15th Jan 2019 16:38

(Sharecast News) - Restore boss Charles Skinner topped-up his holdings in the support services group on Tuesday.That took the chief executive's stake in the firm to 1.593m shares or 1.2% of its equity, even as he prepared to step down from his post in March 2019, after 10 years at the company's helm.According to the company, Skinner picked-up 54,500 shares for 337.1p each, disembursing 181,871.95p in the process.In a trading update published the day before, management had guided towards a ninth consecutive year of double-digit earnings growth.But news that one of its units had experience lower than budgeted volumes over the past year saw the company's share price get shredded, sending the copany's stock back down towards its 52-week highs.More specifically, following a disappointing first half showing, the company's shredding unit had failed to recover over the latest three-month stretch, with volumes declining on a fixed cost base.Commenting on the company's latest trading statement, analysts at Berenberg reiterated their 'buy' recommendation for the shares, telling clients they did not expect the company's winning strategy to experience any significant changes.Nevertheless, improving the performance of the shredding unit would be a critical area of focus, they said. In that regard, in a research note sent to clients, they added that the future recovery of the unit was now more uncertain.Other key areas of focus for the company when it delivered its full-year numbers, on 18 March, would be the future strategy its Restore Digital unit and for the potential disposal of its printer cartridge recycling business.Top Director BuysRestore (RST)Director name: Skinner,CharlesAmount purchased: 54,500 @ 337.10pValue: £183,719.50Aberdeen Diversified Income And Growth Trust (ADIG)Director name: Sinclair,Julian LloydAmount purchased: 40,000 @ 115.00pValue: £46,000.00British Land Company (BLND)Director name: Roberts,Timothy AndrewAmount purchased: 28 @ 546.20pValue: £152.94British Land Company (BLND)Director name: Grigg,ChrisAmount purchased: 28 @ 546.20pValue: £152.94British Land Company (BLND)Director name: Maudsley,Charles Amount purchased: 28 @ 546.20pValue: £152.94Superdry (SDRY)Director name: Barker,Ed Amount purchased: 28 @ 540.00pValue: £151.20Superdry (SDRY)Director name: Callander,Simon Amount purchased: 28 @ 540.00pValue: £151.20British Land Company (BLND)Director name: Carter,SimonAmount purchased: 27 @ 546.20pValue: £147.47British Land Company (BLND)Director name: Grigg,ChrisAmount purchased: 56 @ n/aValue: n/aSuperdry (SDRY)Director name: Callander,Simon Amount purchased: 3 @ n/aValue: n/aBritish Land Company (BLND)Director name: Maudsley,Charles Amount purchased: 56 @ n/aValue: n/aSuperdry (SDRY)Director name: Barker,Ed Amount purchased: 3 @ n/aValue: n/aTop Director SellsAltona Energy (ANR)Director name: Lyth,Nicholas James (Nick)Amount sold: 4,000 @ 48.81pValue: £1,952.50