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Dignity directors sell down

The funeral provider had a great first quarter, and directors are selling down on the back of it
May 25, 2017

It was a strong start to the year for funeral provider Dignity (DTY), culminating in a 20 per cent improvement in first-quarter operating profits. This was the result of a 15 per cent rise in revenues as the number of deaths exceeded expectations by around 7 per cent. This has helped put the shares back on to an even keel following the dramatic swings in the share price around the time of the full-year results in March.

IC TIP: Hold at 2,516p

But seeing as the board still expects the number of deaths in 2017 to fall below that of 2016, it's perhaps unsurprising to see some of the company's directors and their spouses taking the chance to cash in. The wives of chairman Mike McCollum and chairman Peter Hindley both banked more than £2m each, while corporate services director Richard Portman garnered just north of £1m via the sale of 40,000 shares.

Buys

CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Advanced Oncotherapy* Nick Plowman12 May 17833,33330250,0003,470,1324.530
Advanced Oncotherapy Steve Myers 15 May 17400,00026104,000450,5690.588
Alliance Trust Karl Sternberg17 May 172,750697.7919,1898,8420.002
BT  Nick Rose12 May 1775,000301.2225,900200,0000.002
BT  Mike Rake (ch)12 May 1716,400305.550,102165,1210.002
CORETX Holdings William Dobbie11 May 171,580,00031.65500,07017,756,0538.846
Debenhams Ian Cheshire (ch)15 May 1750,00049.8924,945600,0000.049
Empyrean Energy* Frank Brophy12 May 171,800,0003.563,0004,023,3331.169
Empyrean Energy* John Laycock (fd)12 May 17500,0003.517,5001,700,0000.494
Empyrean Energy* Thomas Kelly (ceo)12 May 172,000,0003.570,00040,881,56311.879
Finsbury Growth & Income Trust Simon Hayes11 May 179,814719.570,61230,0000.020
Frontier Developments♥ Charles Cotton16 May 1736,630409.5150,000135,9690.399
G4S Winnie Fok12 May 1710,000318.531,85030,0000.002
Highcroft Investments John Hewitt (ch)15 May 172,00092518,50030,4500.589
ITE  Andrew Beach17 May 1715,000167.525,12515,0000.006
ITE  Mark Shashoua (ceo)17 May 1755,000167.592,12555,5350.021
Image Scan Holdings* William Mawer (ch)12 May 17500,0005.2526,2505,204,6823.838
Jackpotjoy Andrew McIver (ceo)16 May 1718,500589.92109,13518,5000.025
Jupiter Emerging & Frontier Income Trust Audrey McNair15 May 1720,00010020,00020,0000.022
Jupiter Emerging & Frontier Income Trust John Scott (ch)15 May 1720,00010020,00020,0000.022
Jupiter Emerging & Frontier Income Trust Mark Dampier15 May 1750,00010050,00050,0000.056
Jupiter Emerging & Frontier Income Trust Nicholas Moakes15 May 1720,00010020,00020,0000.022
Lloyds Banking  António Horta-Osório (ceo)17 May 1750,00072.3136,15520,663,3830.029
Murray Income Trust Neil Rogan15 May 177,000814.095656,98728,0000.042
NEX  Stuart Bridges (fd)16 May 1725,000605151,250159,9990.042
Oakley Capital Investments Peter Dubens16 May 1790,000166149,4002,138,1671.044
Princess Private Equity Holding Richard Battey11 May 175,0001,04552,25035,0000.051
Produce Investments Neil Davidson (ch)12 May 175,40020010,800130,4000.484
Produce Investments Neil Davidson (ch)12 May 1716,50020033,000125,0000.464
Scancell Holdings*John Chiplin (ch)16 May 171,041,17710104,1181,100,0000.352
Scottish Oriental Smaller Co's Tr (The) ♥ Jeremy Whitley15 May 1710,0001,027102,70019,5000.064
WPP Roberto Quarta (ch)17 May 1710,0001,729172,90037,5000.003
Whitbread Adam Crozier15 May 171,0004,073.6840,7371,0000.001
Woodford Patient Capital Trust Louise Makin 15 May 1712,00092.09211,05125,5230.003
Woodford Patient Capital Trust Alan Hodson16 May 17100,00092.892,800150,0000.018
Woodford Patient Capital Trust Susan Searle (ch)15 May 1715,00092.224913,83451,0620.006
XLMedia Ory Weihs (ceo)16 May 1741,70012853,3763,691,7001.843
Zegona Communications Murray Scott17 May 1720,00015831,60040,0000.020
Zegona Communications Ashley Martin16 May 1715,867156.724,86415,8670.008
Zegona Communications Eamonn O'Hare (ch & ceo)17 May 1763,870161102,8312,123,8701.083
Zegona Communications Richard Williams16 May 1712,578156.5919,69668,5780.035

Sells

CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Access Intelligence David Lowe11 May 1780,00043,2005,277,4751.835
Amino Technologies♥ Michael Bennett12 May 17100,000208.6208,60020,0000.028
Diageo P Scott11 May 178,0002283182,6402,0000.000
Dignity♥ Mike McCollum (ceo)16 May 1791,6672,622.062,403,56691,6670.184
Dignity♥ Peter Hindley (ch)16 May 1780,0002,626.702,101,36080,6960.162
Dignity Richard Portman15 May 1740,0002,7001,080,00052,2800.105
Frontier Developments♥ David Walsh12 May 17132,910381506,387290,0000.850
Hammerson Jean-Philippe Mouton17 May 1711,894584.12569,476253,8080.032
K&C REIT♥ Christopher Bateman11 May 172,500,00010250,00000.000
Menzies (John) ♥ Dermot Jenkinson17 May 17100,000701.8701,800648,8570.778
NMC Health♥   H Tompkins15 May 171,000209820,98023,0830.011
Randgold Resources Mark Bristow (ceo)15 May 1750,0007,243.703,621,850768,6420.818
SIG♥  Leslie Van de Walle (ch)16 May 1750,00012663,00075,0000.013
Savills Jeremy Helsby (ceo)16 May 1740,000917.5485367,019564,8490.404
Taylor Wimpey Ryan Mangold (fd)12 May 17230,000198.82457,2861,060,2330.032

* placing/tender/open offer ♥ spouse/connected party