Pawnbroker Albermarle & Bond has made hay in the current tough climate. At the end of last May, A&B indicated profits this year would be significantly higher than expected.
The core pawnbroker business has been boosted by the higher price of gold, which has enhanced the yield on unredeemed loans, A&B said.
Taking advantage of the spike in the share price following that update, finance director David Pattinson has sold 150,000 shares at 207.6p, while founder and current non-executive Philip Murphy disposed of 50,000 at the same price.
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
Both directors exercised options last month. Pattinson took up two chunks of options on 50,000 and 100,000 shares at respective exercise prices of 74.5p and 93.5p, while Murphy exercised options over 100,000 shares at 74.5p.
Top Director Buys
Value: £112,150
Value: £31,422
Value: £30,002
Value: £10,010
Top Director Sells
Value: £320,057
Value: £311,400
Value: £194,822
Value: £178,635
Value: £114,772
Value: £111,389
Value: £103,800
Value: £81,968
Value: £62,624
-
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
