Directors dealings: Melrose director picks up shares in buy-out specialist

2nd Sep 2016 18:19

(ShareCast News) - Melrose Industries´s non-executive director David Lis picked up a large chunk of shares in the London-listed buy-out specialist, the company said in a statement.Lis bought three tranches of stock on 2 September, numbering 100,000, 23,000 and 3,500 shares each, giving him a 0.023% stake in the firm.He paid 151.78p, 151.67p and 151.46p per share for each tranche, respectively, for a total consideration of £191,965.2.Lis joined the board of Melrose on 12 May 2016.On 31 August Melrose closed the acquistion of US-listed Nortek, the global manufacturer of air management, security, homeautomation and ergonomic and productivity products and solutions.In the following session analysts at JP Morgan re-initiated their coverage of Melrose with an 'overweight' stance and a December 2017 target price for the shares of 180p.The broker said the Nortek deal felt like a very "'Melrose-like'" opportunity, "an under-managed, under- invested and under-performing asset acquired at a fair price for current trading but not the longer-term potential.""In a sector where fundamentals remain challenged and we struggle to find value we see management and self-help stories as relatively attractive; in this regard we believe Melrose is best-in-class. We reinstate our rating on Melrose at overweight."Shares in Melrose finished 2.69% higher at 152.75p on Friday on stronger than average trading volumes.Top Director BuysMelrose Industries (MRO)Director name: Lis,David Amount purchased: 100,000 @ 151.78pValue: £151,783.49Kaz Minerals (KAZ)Director name: Heale,SimonAmount purchased: 28,000 @ 175.70pValue: £49,196.00Melrose Industries (MRO)Director name: Lis,David Amount purchased: 23,000 @ 151.67pValue: £34,883.20Jimmy Choo (CHOO)Director name: Parker,MeribethAmount purchased: 12,000 @ 126.50pValue: £15,180.00Murray International Trust (MYI)Director name: Hardie,DavidAmount purchased: 1,390 @ 1,090.56pValue: £15,158.78Murray International Trust (MYI)Director name: Hardie,DavidAmount purchased: 1,390 @ 1,090.56pValue: £15,158.78Northern Bear (NTBR)Director name: Hayes,Tom Amount purchased: 20,000 @ 45.00pValue: £9,000.00Melrose Industries (MRO)Director name: Lis,David Amount purchased: 3,500 @ 151.46pValue: £5,301.10Personal Assets Trust (PNL)Director name: Sharp,Jean Amount purchased: 6 @ 39,800.00pValue: £2,388.00Personal Assets Trust (PNL)Director name: Angus,Robin JohnAmount purchased: 4 @ 39,800.00pValue: £1,592.00Personal Assets Trust (PNL)Director name: Sharp,Jean Amount purchased: 3 @ 40,190.00pValue: £1,205.70Bankers Petroleum Ltd.(cdi) (BNK)Director name: Urch,Douglas CAmount purchased: 769 @ $C1.93Value: $C888.09Legal & General Group (LGEN)Director name: Wilson,NigelAmount purchased: 92 @ 213.40pValue: £196.33Centrica (CNA)Director name: Hanafin,MarkAmount purchased: 64 @ 233.91pValue: £149.70Premier Oil (PMO)Director name: Rose ,RichardAmount purchased: 210 @ 71.25pValue: £149.62Stagecoach Group (SGC)Director name: Paterson,Ross Amount purchased: 67 @ 222.45pValue: £149.04Stagecoach Group (SGC)Director name: Griffiths,Martin AndrewAmount purchased: 67 @ 222.45pValue: £149.04Premier Oil (PMO)Director name: Durrant ,Tony Amount purchased: 175 @ 71.25pValue: £124.69Premier Oil (PMO)Director name: Allan,RobinAmount purchased: 175 @ 71.25pValue: £124.69Top Director SellsVp (VP.)Director name: Stothard,Neil AAmount sold: 3,995 @ 713.00pValue: £28,484.35Vp (VP.)Director name: Bainbridge,AllisonAmount sold: 2,585 @ 713.00pValue: £18,431.05