Directors dealings: Telit boss continues to amass stake

Following a large bounce in the stock price year-to-date, on 8 August the firm reported a sharp drop in interim profits despite improved margins, on the back of continued R&D efforts and setbacks in the ramp-up of certain products in the States.

A little over a week later, Canaccord Genuity analyst Paul Morland hiked his target price on the shares from 280p to 310p, telling clients he expected the company to benefit from typically strong seasonality in the second half of the year.

Morland also expected strength in the US dollar to boost margins and positively impact on the company's valuation multiples.

Against that backdrop, on 12 September Cats bought 100,000 shares in the company for £229,000, taking his stake in Telit to 19.87%, the company said in a statement.

Top Director Buys

Telit Communications (TCM)
Director name: Cats,Oozi
Amount purchased: 100,000 @ 229.00p
Value: £229,000.00

Greencoat Uk Wind (UKW)
Director name: Ingram,Tim
Amount purchased: 13,923 @ 113.21p
Value: £15,762.65

Lms Capital (LMS)
Director name: Birkett,Rod
Amount purchased: 25,000 @ 59.25p
Value: £14,812.50

Carr's Group (CARR)
Director name: Wood ,Ian
Amount purchased: 9,000 @ 156.70p
Value: £14,103.00

Mcbride (MCB)
Director name: Harrington,Neil
Amount purchased: 7,000 @ 176.03p
Value: £12,322.14

Old Mutual (OML)
Director name: Naidoo,Vassi
Amount purchased: 1,080 @ R210.15
Value: R12,215.52

Aberdeen Smaller Companies Income Trust (ASCI)
Director name: Fletcher,David
Amount purchased: 4,917 @ 202.36p
Value: £9,949.99

Mcbride (MCB)
Director name: Harrington,Neil
Amount purchased: 3,000 @ 176.18p
Value: £5,285.40

United Utilities Group (UU.)
Director name: Mogford,Steven L
Amount purchased: 37 @ 974.90p
Value: £360.71

United Utilities Group (UU.)
Director name: Houlden,Russ
Amount purchased: 37 @ 974.90p
Value: £360.71

Sthree (STHR)
Director name: Elden,Gary
Amount purchased: 74 @ 255.00p
Value: £188.70

Sthree (STHR)
Director name: Smith,Alex
Amount purchased: 73 @ 255.00p
Value: £186.15

Croda International (CRDA)
Director name: Layden ,Keith
Amount purchased: 5 @ 3,264.00p
Value: £163.20

Croda International (CRDA)
Director name: Brophy ,Tom
Amount purchased: 5 @ 3,264.00p
Value: £163.20

Croda International (CRDA)
Director name: Foots,Steve
Amount purchased: 5 @ 3,264.00p
Value: £163.20

Lloyds Banking Group (LLOY)
Director name: Horta-Osorio,Antonio
Amount purchased: 252 @ 59.54p
Value: £150.05

Easyjet (EZJ)
Director name: Brady,Warwick
Amount purchased: 13 @ 1,150.65p
Value: £149.58

Easyjet (EZJ)
Director name: McCall,Carolyn
Amount purchased: 13 @ 1,150.65p
Value: £149.58

Easyjet (EZJ)
Director name: Findlay ,Andrew
Amount purchased: 13 @ 1,150.65p
Value: £149.58

Aviva (AV.)
Director name: Amin,Nitinbhai
Amount purchased: 34 @ 437.09p
Value: £148.61

Alternative Networks (AN.)
Director name: Quartermaine,Mark
Amount purchased: 46 @ 322.00p
Value: £148.12

Alternative Networks (AN.)
Director name: Griggs,Gavin
Amount purchased: 46 @ 322.00p
Value: £148.12

Go-ahead Group (GOG)
Director name: Brown,David
Amount purchased: 7 @ 2,071.00p
Value: £144.97

Croda International (CRDA)
Director name: Maiden,Jez K
Amount purchased: 4 @ 3,264.00p
Value: £130.56

Lloyds Banking Group (LLOY)
Director name: Colombás ,Juan
Amount purchased: 210 @ 59.54p
Value: £125.04

Lloyds Banking Group (LLOY)
Director name: Culmer,George
Amount purchased: 210 @ 59.54p
Value: £125.04

Meggitt (MGGT)
Director name: Young,Stephen G
Amount purchased: 27 @ 461.90p
Value: £124.71

Meggitt (MGGT)
Director name: Green,Philip Ernest
Amount purchased: 27 @ 461.90p
Value: £124.71

Go-ahead Group (GOG)
Director name: Edwards,Paul
Amount purchased: 6 @ 2,071.00p
Value: £124.26

Firstgroup (FGP)
Director name: Barker,Mick
Amount purchased: 105 @ 109.82p
Value: £115.31

Lloyds Banking Group (LLOY)
Director name: Culmer,George
Amount purchased: 75 @ 59.54p
Value: £44.66

Lloyds Banking Group (LLOY)
Director name: Horta-Osorio,Antonio
Amount purchased: 75 @ 59.54p
Value: £44.66

Lloyds Banking Group (LLOY)
Director name: Colombás ,Juan
Amount purchased: 75 @ 59.54p
Value: £44.66