Directors dealings: Supergroup founder Dunkerton pares stake
Supergroup founder Julian Dunkerton sold a hefty amount of shares in the £1.25bn market cap fashion retailer, even as its shares continued to trade near their record highs.
FTSE 250
19,599.39
17:14 22/04/24
FTSE 350
4,408.19
17:14 22/04/24
FTSE All-Share
4,362.60
16:44 22/04/24
Personal Goods
16,096.83
17:14 22/04/24
Superdry
8.30p
16:40 22/04/24
Dunkerton, who is also the FTSE 250-listed company´s product and brand director hived off 392,156 shares at an individual price of 1,530p, for a total consideration of £5,999,986.80 on 20 January, the firm said in a statement.
That was a 0.48% stake in the owner of the Superdry fashion brand, which lowered his holdings in the firm´s equity to 26.67%.
Supergroup shares ended the session ended down by 2.10% to 1,541p, amid heavy trading volumes.
Just over a week before, on 12 January, the owner of the company had lifted its interim dividend by a quarter, after reporting strong sales and profits growth in the UK, with the business also gaining traction in the US and China.
That same day, and following the company´s interims, analysts at RBC Capital reiterated their 'outperform' recommendation and 1,900p on Supergroup shares.
"We think SuperGroup has outperformed in a tough apparel market owing to its international exposure, online growth and higher-than-average amount of transitional product.
"We are positive on SuperGroup for likely continued sales momentum driven by strong ecommerce sales, an improved product offer and investments made in infrastructure. We view SuperGroup as an international online growth story at 19x CY17E with potential for additional cash returns over time," RBC said.
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Top Director Sells
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Director name: Dunkerton,Julian
Amount sold: 392,156 @ 1,530.00p
Value: £5,999,986.87