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Directors dealing news this week has been like the number 19 bus. None all week, and then they all come at once, on Friday. Let’s start with Diageo:
Paul Walsh, CEO of Diageo (DGE, 1017p) has sold again, this time selling 39148 shares at 1001p, taking his holding to 644,000 shares.
I have earlier commented (see here) on Walsh’s fortuitous timing in selling down his position, and will now put some numbers to show his success:
Date/Sale price/3 month performance relative to FTSE 100/Note
30/10/07 1100p. +2% Sale post options exercise
15/2/08 1081p -12% Outright sale
18/2/08 1068p -13% Outright sale
1/4/08 1050p -8% Sale post options exercise
9/5/08 1040p +8% Sale post options exercise
29/8/08 1001p ?? Outright sale
I think you can see where I’m coming from here.
Walsh’s timing has proven to be pretty good historically. I wouldn’t be buying DGE here.
Signal Strength remains MEDIUM
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