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BT Group (BT.A)- CEO share purchase not a positive signal
February 15, 2009 in Directors buying, FTSE 100, WEAK signal | Tags: BT Group, Hanif Lalani, Ian Livingstone, Sir Michael Rake | Leave a comment
Back in August last year, the CFO of BT Group (BT.A, 99p) Hanif Lalani, invested GBP 100,000 at 171p.
On Friday he was joined by his CEO Ian Livingstone, who bought 99,500 shares at 99.7p, taking his holding to 759,000 shares, in addition to over 2.5 million deferred compensation and incentive shares.
This isn’t a buy signal.
Livingstone has been in and out of BT all year, and this purchase does not signal any change in behaviour. Livingstone bought at 230p in February 2008, sold at 233p and 172p in May and August, and bought at 163p in August also. Make of that what you will!
For a positive signal on the stock, we need to see more non execs buying. Chairman Sir Michael Rake bought at 127p and 166p in September and November 2008, almost doubling his holding by buying 32,000 shares. BT has seven other non execs, and they haven’t bought yet.
View on BT Group: Neutral
Signal from directors dealing activity: WEAK
