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Safe as houses? Persimmon non exec buys shares for family
October 14, 2008 in Directors buying, FTSE 250 company, WEAK signal | Tags: directors dealings, housebuilders, Persimmon | Leave a comment
Back in May this year four executive members of the board (White, Farley, Kiloran and Bryant) of Persimmon (PSN, 377p) sold shares at 567p. Within eight weeks Persimmon shares were trading at 220p.
On September 30th we saw the first purchase of shares at Persimmon by the senior independent non executive director David Thompson. Mr Thompson invested almost GBP 80,000 for various members of his family by buying 20,000 shares at 398p.
Thompson increased his (and his familys’) holding in Persimmon by 50%, taking their holding to 60,000 shares.
These purchases don’t score highly on my ‘significance’ rating, because only one director is buying shares. I thought it worth recording though due to the size (GBP 80k) and the increase in shareholding (50%).
View of directors dealings: Positive- director is buying shares
Significance of the transaction: Low / Weak as only one director buying shares