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Last Thursday, November 21st, the three amigos at Michael Page International (MPI), CEO Ingham, CFO Puckett and MD Dumon, stepped in to buy back shares they had sold only 7 1/2 months earlier at twice the price.

Steve Ingham, CEO of MPI Stephen Puckett, CFO of MPI

They each bought 170,000 shares at 280p. Puckett and Ingham sold on April 10th around 147,000 shares at 560p each. Dumon sold 428,000 shares on April 10th and May 4th at between 560p and 580p.

I suggested in my post on November 14th that, following the move by Nelson, CFO of SThree (STHR), who bought £100k worth of shares at 211p having sold in November 2006 at 372p, we were likely to see a positive share price move in the sector.

Look for more news from SThree next Thursday, when they give us a ‘pre close trading update’. This is likely to be positive for the Recruitment Sector overall.

Do you remember Randstads profit warning in July this year? You should. Share prices in Randstad (RAND), Michael Page (MPI), Hays (HAS) and SThree (STHR) have fallen since then by around 30-50%, from year highs to near year lows now.

Michael Nelson, CFO of SThreeInteresting then that yesterday the CFO of SThree, Nelson, dips his toe in the water and picks up £102k of stock, increasing his holding by a third. Even more interesting is that the company are due to announce a trading update on November 30th.

Nelson sold about 14000 shares at 372p in November last year. Looking back to April this year it is also curious to see three senior managers (CEO, CFO and MD) at Michael Page take out £700k to £800k each by selling down their positions, over and above the stock they sold as a result of options exercise, within 7% of the all time high for MPI.

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