The wife and son of Mouchel's chief executive Richard Cuthbert have been taking advantage of weakness in the share price of the provider of outsourced services to the public sector.
His wife Julia and son Simon each took 20,000 shares, paying 121p a time and paying a combined total of nearly £50,000. Last week chairman Bo Lerenius took 10,000 shares at 104p a go.
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
Its share price has suffered over the past month after a warning in June that the environment for government and public sector contracts has worsened markedly under the new coalition government.
'Demand for the group's services, as we anticipated, has been affected by the measures taken by the new government to address the budget deficit and by the similar actions of some local authority clients,' it said.
The timing and the impact of these measures have been particularly noticeable in the more discretionary areas of expenditure, especially roads and schools capital programmes, it added.
Mouchel said that though the short-term outlook is difficult, the underlying performance for the current year to the end of July will be in line with its expectations, excluding any one-off costs of restructuring.
Top Director Buys
Polo Resources (POL) Director name: Mr Stephen R DattelsAmount purchased: 40,000,000 @ 5.94p Value: £2,372,000
Mouchel Group (MCHL) Director name: Mr R H CuthbertAmount purchased: 40,000 @ 121.08p Value: £48,432
Ceres Power Holdings (CWR) Director name: Mr Brian CountAmount purchased: 50,000 @ 60.19p Value: £30,095
W H Ireland (WHI) Director name: Mr Rupert J G LoweAmount purchased: 50,000 @ 39.00p Value: £19,500
Ceres Power Holdings (CWR) Director name: Mr Rex VeversAmount purchased: 20,000 @ 61.50p Value: £12,300
Ceres Power Holdings (CWR) Director name: Mr Peter BanceAmount purchased: 20,000 @ 60.00p Value: £12,000
-
How retirement pots risk running out 11 years early if inflation remains highPension savers could find their retirement income may not last as long as they anticipated over fears that inflation may not slow down
-
How extending stealth tax freeze would cancel out pensioners’ Winter Fuel Payment by 2030Pensioners relying on just the full new state pension face paying tax on their income within a few years, as the payment rises but thresholds remain frozen
