Robert Walters

Robert Walters (RWA, 167p) directors, having sold 4.7m shares from March to September last year, at prices between 330p and 368p, are now starting to buy back their positions.

Robert Walters, CEO, and Giles Daubeney, COO, have this week bought 740,000 shares at around the 150p mark. Allan Bannatyne, CFO, has started a position by investing about £65,000 at the same level. See Yahoo Finance for details.

In August last year Robert Walters was ‘the subject of takeover interest from leisure recruitment specialist Berkeley Scott’ (Telegraph 21/8).

In November last year we saw directors of Michael Page (MPI) and SThree (STHR) investing quite heavily, investing £1.1m between them (see Michael Page comments).

Maybe conditions in this sector, which has a high sensitivity to economic growth, aren’t as bad as the market thinks. Or maybe expect future merger activity within the sector.

Next news Tuesday March 4th- Michael Page earnings release. Expect a comment on current trading.