Directors deals: Just Eat boss and finance chief cash in their shares

Two top directors at Just Eat offloaded a combined over 2m shares held personally by them, sending the price of the company's stock crashing early on Monday.

The company's boss, David Butress, and finance chief Mike Wroe sold 1,716,511 and 757,945 shares, respectively, at a price of 393.0788p apiece.

Those shares were held directly by each of them.

Butress pocketed approximately £6,74m via the transaction and Wroe about another £2.96m.

Shares in Just East finished the session 9.62% weaker at 383.30p, putting them at the bottom of the leaderboard for the FTSE 250.

Butress and Wroe on 4 March sold an additional 1,475,331 and 931,078 shares held by each under Just Eat's joint share ownership plan.

They were only entitled to the proceeds of the sale of shares held under the JSOP plan above a certain threshold determined at the time of the company's initial public offering, with the remainder accruing to the firm's employee benefit trust, Just Eat said in a statement.

Following Friday's sales, Butress was left holding 500,000 shares in the company directly and Wroe another 350,000.

In a research note sent to clients on Monday morning, analysts at Cannacord Genuity said the company's full-year results, published on 1 March had "emphasised the group's large and growing scale as well as strength of execution."

Analyst David Amiras said he believed the food delivery business was capable of growing its earnings at a compound anual growth rate of 43% over the next three years, "as it continues to drive channel shift in the UK market and expand sales and profits internationally."

He lifted his target price on the stock from 595p to 625p and stuck to his recommendation for clients to 'buy'.

Top Director Buys

Mandarin Oriental International (singapore) (MDO)
Director name: Dickie,Stuart
Amount purchased: 20,000 @ $1.36
Value: $27,250.00

St. Modwen Properties (SMP)
Director name: Mully,Richard Stephen
Amount purchased: 7,824 @ 305.00p
Value: £23,863.20

Hgcapital Trust (HGT)
Director name: Dunscombe,Peter
Amount purchased: 1,500 @ 1,057.91p
Value: £15,868.65

Plutus Powergen (PPG)
Director name: Longley,James
Amount purchased: 1,666,778 @ 0.90p
Value: £15,029.34

Walker Crips Group (WCW)
Director name: Hetherton,David
Amount purchased: 23,299 @ 48.70p
Value: £11,346.61

Metal Tiger (MTR)
Director name: Johnson,Paul
Amount purchased: 705,000 @ 1.17p
Value: £8,248.50

Image Scan Holdings (IGE)
Director name: Mawer,Bill
Amount purchased: 402,010 @ 1.99p
Value: £8,000.00

Alumasc Group (ALU)
Director name: Pither,Jonathon Peter
Amount purchased: 4,050 @ 176.00p
Value: £7,128.00

St. Modwen Properties (SMP)
Director name: Mully,Richard Stephen
Amount purchased: 2,176 @ 305.00p
Value: £6,636.80

Hgcapital Trust (HGT)
Director name: Dunscombe,Peter
Amount purchased: 500 @ 1,060.00p
Value: £5,300.00

Grainger (GRI)
Director name: Jopling ,Nick
Amount purchased: 2,155 @ 229.70p
Value: £4,950.03

Hgcapital Trust (HGT)
Director name: Brooman,Richard J
Amount purchased: 250 @ 1,073.46p
Value: £2,683.65

Personal Assets Trust (PNL)
Director name: Angus,Robin John
Amount purchased: 3 @ 35,300.00p
Value: £1,059.00

Glaxosmithkline (GSK)
Director name: Slaoui,Moncef
Amount purchased: 52 @ $19.83
Value: $745.38

Britvic (BVIC)
Director name: Litherland,Simon
Amount purchased: 20 @ 694.00p
Value: £138.80

Top Director Sells

Sabmiller (SAB)
Director name: Clark,Alan
Amount purchased: 90,000 @ 4,206.00p
Value: £3,785,400.12

Jardine Matheson Holdings Ltd (singapore Reg) (JAR)
Director name: Weatherall,E P K
Amount purchased: 50,000 @ $55.95
Value: $2,797,319.98

British American Tobacco (BATS)
Director name: Stevens,Ben
Amount purchased: 12,700 @ 4,014.50p
Value: £509,841.51

Hunting (HTG)
Director name: Proctor,Dennis L
Amount purchased: 104,178 @ 430.00p
Value: £447,965.42

British American Tobacco (BATS)
Director name: Stevens,Ben
Amount purchased: 4,300 @ 4,020.64p
Value: £172,887.53

Hunting (HTG)
Director name: Rose,Peter
Amount purchased: 17,218 @ 430.00p
Value: £74,037.40

Plutus Powergen (PPG)
Director name: Longley,James
Amount purchased: 1,666,778 @ 0.90p
Value: £15,001.00