The founding director and chief investment officer (CIO) of Brooks MacDonald have each sold 10,000 shares in the firm at 1,211p.
The man behind the investment fund management firm, Chris MacDonald, who also holds the role of chief executive officer, made the £121,100 sale alongside his co-worker and CIO, Richard Spencer, less than one month after the firm announced a 37% rise in underlying pre-tax profit to £7.8m.
MacDonald was clearly pleased with the result, saying at the time, "this has been another year of significant growth for the group."
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The firm is currently working on plans to continue to grow its discretionary funds under management through organic investment, acquiring investment management teams, expanding its regional presence and developing its product and service offering.
Although the firm's share price fell on the news of the sales, over the past year it has risen more than 34%.
A number of takeovers during the past 12 months have boosted the firm's funds under management to almost £3bn, with MacDonald recently saying that he has another £13m available for further investment and acquisitions.
Top Director Buys
British Polythene Industries (BPI)
Director name: Mr Ian Russell
Amount purchased: 10,000 @ 325.00p
Value: £32,500
St Ives (SIV)
Director name: Mr Richard Stillwell
Amount purchased: 20,000 @ 76.60p
Value: £15,320
Top Director Sells
Brooks Macdonald Group (BRK)
Director name: Mr Chris A MacDonald
Amount sold: 10,000 @ 1,211.00p
Value: £121,100
Brooks Macdonald Group (BRK)
Director name: Mr Richard Spencer
Amount sold: 10,000 @ 1,211.00p
Value: £121,100
NR
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
