Aegis logo

I was prompted to take a relook at Aegis (AGS, 115p) today after reading Questors thoughts. I had noticed in November unusual behaviour by three executive directors who were buying shares in their employer, in an industry I believe to be highly exposed to economic growth. I noticed then that this was a company well positioned to benefit from ‘digital media’.

Mainardo Nardis (CEO of Aegis Media division), Alicia Lesniak (CFO), and Robert Lerwill (CEO) all bought shares between 14th and 19th November, at prices between 116p and 118p, totalling £175k. This was a change in behaviour, as three other directors at Aegis (Chedore, Hicks and Verklin) had, over 12 months to May 2007, unloaded about 3.2m shares between them at prices between 126p and 145p.

It is rather brave don’t you think to buy shares and then, only one month later, issue a trading statement which results in a 6% upward move in the share price? Here is a brief extract: ‘Group organic revenue growth ….remained very strong, and significantly ahead of the market’.

I also agree with Questor ‘it looks like good value’.