Aaron Brown, appointed a non-executive director at Mitchells and Butlers earlier this month, has opened his account at the pub group, spending nearly £100,000 on shares.
Brown, who is also a director of R20, the investment vehicle of billionaire property tycoon Robert Tchenguiz, bought 50,000 shares in the O'Neill's and Harvester owner at 199.7p a share.
News of the purchase, made Tuesday, comes on the same day Goldman Sachs upgraded its rating on the pub group to 'neutral' from 'sell' in light of heavy falls in its share price in recent months.
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
M&B has lost almost 75% of its value in the past year, with the smoking ban and reduced consumer confidence hitting trade.
Goldman cut its six-month price target on the group to 220p from 290p.
Top Director Buys
Anglogold Ash (AGD)
Director name: Mr Russell P Edey
Amount purchased: 1,754 @ R23,350.00
Value: R40,955,900
Banco Santander Central Hispano (BNC)
Director name: Mr Abel Matutes Juan
Amount purchased: 506,000 @ 932.64p
Value: £4,719,158
Banco Santander Central Hispano (BNC)
Director name: Mr Abel Matutes Juan
Amount purchased: 506,000 @ 931.85p
Value: £4,715,161
New Century AIM VCT (NCA)
Director name: Mr Michael David Barnard
Amount purchased: 855,410 @ 103.20p
Value: £882,783
Dolphin Capital Investors (DCI)
Director name: Mr Miltos Kambourides
Amount purchased: 200,000 @ 106.00p
Value: £212,000
Mitchells & Butlers (MAB)
Director name: Mr Aaron Brown
Amount purchased: 50,000 @ 199.70p
Value: £99,850
Pinewood-Shepperton (PWS)
Director name: Mr Ivan Dunleavy
Amount purchased: 31,565 @ 230.00p
Value: £72,600
Findel (FDL)
Director name: Mr Philip Maudsley
Amount purchased: 40,000 @ 160.00p
Value: £64,000
Jubilee Platinum (JLP)
Director name: Mr Malcolm Burne
Amount purchased: 100,000 @ 54.00p
Value: £54,000
Findel (FDL)
Director name: Mr Patrick E Jolly
Amount purchased: 20,000 @ 161.00p
Value: £32,200
Top Director Sells
Carnival (CCL)
Director name: Mr Robert H Dickinson
Amount sold: 18,042 @ 1,760.67p
Value: £317,660
Halma (HLMA)
Director name: Mr Neil Quinn
Amount sold: 119,403 @ 199.50p
Value: £238,209
New Century AIM VCT (NCA)
Director name: Mr Geoffrey Charles Gamble
Amount sold: 39,000 @ 103.20p
Value: £40,248
New Century AIM VCT (NCA)
Director name: Mr Robin William Kirby
Amount sold: 35,000 @ 103.20p
Value: £36,120
New Century AIM VCT (NCA)
Director name: Mr Robin William Kirby
Amount sold: 10,000 @ 103.20p
Value: £10,320
-
Rightmove: property asking prices hit record highNews Rising demand for top of the ladder home is boosting asking prices, Rightmove research shows. Is now a good time to sell a property?
-
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.
