Betfair finance director Stephen Morana has bought £100,000 worth of shares in the betting exchange operator following yesterday's share price fall in the back of interim figures.
Betfair floated in October at an offer price of 1,300p a share. It dipped below that price prior to the interims and at one point yesterday it fell below 1,000p a share. There are concerns about whether Betfair can meet full year targets. Reported profit declined from £9.19m to £7.45m. That includes exceptional costs from corporate projects of £16.8m. Active Betfair customers rose by 31% to 654,000 but average revenue per user fell 16% to £213.
Morana has bought 9,641 shares at 1,037.14p each. Along with his wife he owns 13,550 shares.
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Morana joined Betfair in 2002 and took up his current post in 2005.
Top Director Buys
Betfair (BET) Director name: Mr Stephen MoranaAmount purchased: 9,641 @ 1,037.14p Value: £99,991
SR Europe Inv Trust (SR.) Director name: Mr Martin RileyAmount purchased: 25,000 @ 189.00p Value: £47,250
CLS Holdings (CLI) Director name: Mr Richard TiceAmount purchased: 8,000 @ 520.00p Value: £41,600
Digital Barriers (DGB) Director name: Mr Rupert KeeleyAmount purchased: 20,000 @ 160.00p Value: £32,000
SR Europe Inv Trust (SR.) Director name: Mr Martin RileyAmount purchased: 15,000 @ 190.00p Value: £28,500
KCOM Group (KCOM) Director name: Mr Martin TowersAmount purchased: 45,000 @ 54.62p Value: £24,579
Pursuit Dynamics (PDX) Director name: Mr Richard WebsterAmount purchased: 5,000 @ 486.00p Value: £24,300
Digital Barriers (DGB) Director name: Mr Christopher BanksAmount purchased: 15,000 @ 160.00p Value: £24,000
Brulines Group (BRU) Director name: Mr James DicksonAmount purchased: 20,000 @ 110.00p Value: £22,000
Flybe Group (FLYB) Director name: Mr Peter SmithAmount purchased: 5,500 @ 319.00p Value: £17,545
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