Directors´ dealings: Berkeley Group non-exec picks up shares

Li, who chaired the company´s remuneration committee and was also a member of its audit committee, picked up 10,000 shares at 2,570p apiece on 16 September, for a total of £257,000.

On 6 September the firm said it had entered 2016/17 with record cash due on forward sales of £3.25bn and future estimated land bank gross margin of £6.15bn, respectively.

The forward sales provide good visibility over the next two years, it said, and Berkeley reiterated its guidance for the delivery of £2.0bn of pre-tax profit over the three year period ending on 30 April 2018, having delivered the first £0.5bn of this in the year ended 30 April 2016.

Nonetheless, after an immediate bounce post-Brexit the stock´s price had flattened out afterwards.

Commenting on the company´s AGM statement, which was held on the same day that it published its interims, analysts at JP Morgan reiterated their overweight recommendation and 2,690p target for the shares.

"Berkeley’s AGM statement provides some reassurance over the current state of the London market. Sales rates are down 20% y/y, in line with the January – June run rate. In part this is due to a lack of available stock, as the group has not launched as many new developments in recent months. A lack of deterioration in demand post referendum should be viewed positively. Pricing continues to be robust, and above budget. The group continues to act with caution in the land market, acquiring only two sites in the period."

As of 1609 BST shares in Berkeley Group were trading flat at 2,569.0p.

Gym Group´s senior independent non-executive director Paul Gilbert offloaded £698,697.30-worth of stock in the company on 15 September, as part of an accelerated bookbuilding process, the company said in a statement.

The day before, rival Pure Gym announced its intention to float on the LSE.

Gym Group´s shares were fell 3.44% to 210.50p.

Top Director Buys

Berkeley Group Holdings (The) (BKG)
Director name: Mr Adrian Li
Amount purchased: 10,000 @ 2,570.00p
Value: £257,000

Aew UK Reit (AEWU)
Director name: Mr Bimaljit S (Bim) Sandhu
Amount purchased: 100,000 @ 97.00p
Value: £97,000

Aew UK Reit (AEWU)
Director name: Mr Bimaljit S (Bim) Sandhu
Amount purchased: 50,000 @ 97.00p
Value: £48,500

Conviviality (CVR)
Director name: Mrs Jennifer Laing
Amount purchased: 11,401 @ 219.12p
Value: £24,982

Inspirit Energy Holdings (INSP)
Director name: Mr John Gunn
Amount purchased: 4,000,000 @ 0.26p
Value: £10,400

Top Director Sells

The Gym Group (GYM)
Director name: Mr Paul Gilbert
Amount sold: 332,713 @ 210.00p
Value: £698,697

Gear4music (Holdings) (G4M)
Director name: Mr Peter Robert Armitage
Amount sold: 240,000 @ 210.00p
Value: £504,000

SThree (STHR)
Director name: Mr Justin Hughes
Amount sold: 40,000 @ 255.00p
Value: £102,000