Chief executive Jim Marsh has been buying shares in Cable & Wireless Worldwide following its demerger from Cable & Wireless Communications last week.
He bought 43,500 shares at 94.27p each on Friday and 203,000 at 91.8p each on Monday. The total investment was just over £227,000.
Marsh owns 651,559 shares in C&W Worldwide, which offers telecoms services in the UK and the rest of the world.
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
Broker Nomura prefers C&W Worldwide to the smaller C&W Communications. It recommends C&W Worldwide as a buy and has set a target price of 110p a share. Nomura expects the company to benefit from a move from low margin voice products to higher margin data operations.
Net debt was minimal following the demerger and C&W Worldwide is not expected to pay tax for the foreseeable future. The company is expected to retain its FTSE100 index status.
Top Director Buys
Cable & Wireless Worldwide (CW.) Director name: Mr Jim MarshAmount purchased: 203,000 @ 91.80p Value: £186,354
Umeco (UMC) Director name: Mr Neil JohnsonAmount purchased: 50,000 @ 363.25p Value: £181,625
Volex (VLX) Director name: Mr Ray WalshAmount purchased: 40,000 @ 103.00p Value: £41,200
Cable & Wireless Worldwide (CW.) Director name: Mr Jim MarshAmount purchased: 43,500 @ 94.27p Value: £41,007
Kingfisher (KGF) Director name: Mr Kevin O'ByrneAmount purchased: 17,500 @ 224.21p Value: £39,237
Monitise (MONI) Director name: Mr David DeyAmount purchased: 120,932 @ 16.45p Value: £19,905
The European Investment Trust (EUT) Director name: Mr Michael MouleAmount purchased: 3,000 @ 555.02p Value: £16,651
Wolseley (WOS) Director name: Mr Andrew DuffAmount purchased: 1,000 @ 1,621.78p Value: £16,218
W H Ireland (WHI) Director name: Mr Lord MarlandAmount purchased: 25,000 @ 40.00p Value: £10,000
Top Director Sells
Vodafone Group (VOD) Director name: Mr Andrew HalfordAmount sold: 2,662,172 @ 146.80p Value: £3,908,068
Vodafone Group (VOD) Director name: Mr Andrew HalfordAmount sold: 479,395 @ 146.88p Value: £704,135
Alliance Pharma (APH) Director name: Mr Tony BooleyAmount sold: 489,250 @ 33.25p Value: £162,676
Sainsbury (J) (SBRY) Director name: Mr Justin KingAmount sold: 35,324 @ 328.76p Value: £116,131
Pearson (PSON) Director name: Ms Marjorie ScardinoAmount sold: 9,616 @ 1,044.00p Value: £100,391
Pearson (PSON) Director name: Ms Rona A FairheadAmount sold: 6,757 @ 1,044.00p Value: £70,543
Pearson (PSON) Director name: Mr John MakinsonAmount sold: 6,757 @ 1,044.00p Value: £70,543
SABMiller (SAB) Director name: Mr Tony van KralingenAmount sold: 3,308 @ 1,957.00p Value: £64,738
Kingfisher (KGF) Director name: Mr Ian CheshireAmount sold: 22,359 @ 225.01p Value: £50,310
Kingfisher (KGF) Director name: Mr Ian CheshireAmount sold: 19,882 @ 225.01p Value: £44,736
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
