Director dealings: Connect CEO ups stake
Connect Group chief executive Jos Opdeweegh purchased 535,935 ordinary shares in the London-listed distribution and logistics provider on Thursday.
Opdeweegh, who took the top job at Connect back in July, acquired the shares at an average price of 37.32p, for a total value of £199,999.68.
Analysts at Berenberg lowered their target price on Connect Group following the firm's uneasy trading update back in September.
Connect told investors the negative headwinds that led to its profit warning back in June had persisted, resulting in a further miss to its earnings guidance in 2018.
Berenberg was now forecasting the Tuffnells, Connect's mixed freight business, to make a full year loss after substantial declines in volumes, combined with operating headwinds and cost inflation, resulted in a material deterioration in its performance.
Berenberg said: "As before, we believe it is prudent to wait until Connect has shown evidence of a turnaround in Tuffnells before we model a recovery for this business. We, therefore, forecast that these losses will continue for the coming years."
As of 1630 GMT, Connect shares had picked up 1.79% to 37.95p.
Top Director Buys
Connect Group (CNCT)
Director name: Opdeweegh,Jos
Amount purchased: 535,935 @ 37.32p
Value: £199,999.68
Jkx Oil & Gas (JKX)
Director name: Horn,Hans Jochum
Amount purchased: 82,840 @ 40.00p
Value: £33,136.00
Mission Marketing Group (TMMG)
Director name: Nash,Andrew
Amount purchased: 50,000 @ 56.50p
Value: £28,250.00
Epe Special Opportunities Limited (di) (ESO)
Director name: Quayle,Robert B M
Amount purchased: 12,500 @ 180.00p
Value: £22,500.00
Nanoco Group (NANO)
Director name: Fielding,Alison Margaret
Amount purchased: 47,759 @ 41.88p
Value: £20,001.47
Vertu Motors (VTU)
Director name: Forrester,Robert
Amount purchased: 26,099 @ 38.30p
Value: £9,995.92
Jkx Oil & Gas (JKX)
Director name: Horn,Hans Jochum
Amount purchased: 17,160 @ 40.00p
Value: £6,864.00
Horizonte Minerals (HZM)
Director name: Fisher,William
Amount purchased: 219,000 @ $0.05
Value: $6,690.70
Top Director Sells
Mission Marketing Group (TMMG)
Director name: Ann Shepherd,Fiona Elizabeth
Amount sold: 270,000 @ 56.50p
Value: £152,550.00