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Morgan Sindall chief executive John Morgan buys £3.2m shares

Morgan Sindall CEO John Morgan has purchased £3.2m-worth of additional shares in the company.

Mr Morgan purchased 500,000 shares at £6.40, taking his stake in the business to above 10 per cent.

Shares are currently trading at around £7.12, which is close to the price at which shares were trading at before the EU referendum – around £7.46.

Two financial analysts, Numis and Jefferies, have a target price of £10 for the stock.

Morgan Sindall reported strong half-year results earlier this month, with fit-out increasing operating profit by 11 per cent to £11.5m.

 

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