Directors´ dealings: Berkeley Group non-exec picks up shares

16th Sep 2016 15:09

(ShareCast News) - Berkeley Group Holdings´s Adrian Li bought into the luxury homebuilder´s shares.Li, who chaired the company´s remuneration committee and was also a member of its audit committee, picked up 10,000 shares at 2,570p apiece on 16 September, for a total of £257,000.On 6 September the firm said it had entered 2016/17 with record cash due on forward sales of £3.25bn and future estimated land bank gross margin of £6.15bn, respectively.The forward sales provide good visibility over the next two years, it said, and Berkeley reiterated its guidance for the delivery of £2.0bn of pre-tax profit over the three year period ending on 30 April 2018, having delivered the first £0.5bn of this in the year ended 30 April 2016.Nonetheless, after an immediate bounce post-Brexit the stock´s price had flattened out afterwards.Commenting on the company´s AGM statement, which was held on the same day that it published its interims, analysts at JP Morgan reiterated their overweight recommendation and 2,690p target for the shares."Berkeley's AGM statement provides some reassurance over the current state of the London market. Sales rates are down 20% y/y, in line with the January - June run rate. In part this is due to a lack of available stock, as the group has not launched as many new developments in recent months. A lack of deterioration in demand post referendum should be viewed positively. Pricing continues to be robust, and above budget. The group continues to act with caution in the land market, acquiring only two sites in the period."As of 1609 BST shares in Berkeley Group were trading flat at 2,569.0p.Gym Group´s senior independent non-executive director Paul Gilbert offloaded £698,697.30-worth of stock in the company on 15 September, as part of an accelerated bookbuilding process, the company said in a statement.The day before, rival Pure Gym announced its intention to float on the LSE.Gym Group´s shares were fell 3.44% to 210.50p.Top Director BuysBerkeley Group Holdings (The) (BKG) Director name: Mr Adrian LiAmount purchased: 10,000 @ 2,570.00p Value: £257,000Aew UK Reit (AEWU) Director name: Mr Bimaljit S (Bim) SandhuAmount purchased: 100,000 @ 97.00p Value: £97,000Aew UK Reit (AEWU) Director name: Mr Bimaljit S (Bim) SandhuAmount purchased: 50,000 @ 97.00p Value: £48,500Conviviality (CVR) Director name: Mrs Jennifer LaingAmount purchased: 11,401 @ 219.12p Value: £24,982Inspirit Energy Holdings (INSP) Director name: Mr John GunnAmount purchased: 4,000,000 @ 0.26p Value: £10,400Top Director SellsThe Gym Group (GYM) Director name: Mr Paul GilbertAmount sold: 332,713 @ 210.00p Value: £698,697Gear4music (Holdings) (G4M) Director name: Mr Peter Robert Armitage Amount sold: 240,000 @ 210.00p Value: £504,000SThree (STHR) Director name: Mr Justin HughesAmount sold: 40,000 @ 255.00p Value: £102,000