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Only three days ago, on Sunday October 19th, I highlighted directors buying at Charter plc (CHTR, 390p) at between 314p and 345p: Charter plc – directors buy after shares fall by 2/3rds this month.

I wanted to see more than two directors buying for directors dealings in Charter plc to justify a Strong signal to investors. A further two directors have announced their purchases.

On October 17th non executive Chairman Lars Emilson bought 5,000 shares at 320p, taking his holding to 10,000, and yesterday John Biles, another non exec, bought 5000 shares at 411.75p, taking his holding to 8,000 shares.

As a result of these purchases the Signal strength for directors dealings exhibited at Charter plc goes to STRONG, with a positive view.

View on Charter plc: Positive, directors buying

Signal strength: STRONG.

This stock really has plummeted. I suppose welding and air and gas handling are hugely sensitive to the economic cycle (Charter website). But is the 67% fall in share price since October 1st more than discounting the potential impact of a recession?

A look at the numbers for Charter plc (CHTR, 326p) shows great cashflow generation and decent asset backing, but little dividend payout. But as in anything only time will tell if the two directors who bought shares on Friday are right.

Non exec John Neill bought 20,000 shares at 345p taking his position to 87,000 shares, and

CEO Michael Foster, through his Mrs Mariam Foster, bought 10,000 shares at 314.25p, taking his/their holding to 33,000 shares.

Only five weeks earlier Neill had paid more than double the price. And Foster paid above GBP 10 in November last year.  So I’d like to see support from other directors thereby building a consensus with which I’d be happier to buy shares myself.

In the meantime, one to watch.

View on Charter plc: Positive- directors buying shares.

Strength of Signal: Medium. Need to see more directors buying to merit a STRONG signal.

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June 2022