You are currently browsing the tag archive for the ‘Reed Elsevier’ tag.

I’ve been looking at Glen Moreno (Non exec Chairman) of Pearson (PSON, 705p) share purchases. Moreno appears to be a pretty cautious guy, buying 5000 shares at a time, so he hasn’t really hit my radar. But looking back, he has invested about £360k in 45,000 shares in Pearson since August 2007, increasing his holding by almost 50% to £1.2m. He last paid 703p on the 18th December for 10,000 shares.

Now take a look at Reed Elsevier (REL, 653p), also a FTSE100 media stock. Here we see Patrick Tierney realising £159k through a sale of 25,000 shares, taking his holding down to just 37,000 shares, worth about £243k.

Patrick Tierney

Tierney is Chief Executive of Harcourt Education, a division of Reed Elsevier. He is also a pretty shrewd market operator, having exercised options over 171k shares and then sold the shares within 2% of the years high for Reed, at 676p. It appears he also sold a further 52k shares at 644p on the same day in May.

It may be that Patrick Tierney no longer has a job, as Reed have recently completed the sale of their Education division, and that is why he is selling down his position in Reed. But I would give him due credit for his trading ability, and suggest that the recent share price run in Reed is coming to an end.

Reed Pearson relative performance- source Bloomberg.com
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