The last few weeks have seen plenty of director buying from small caps but blue-chip managers are letting the company take the strain.
Rico Back hasn’t had an easy first few months as chief executive of Royal Mail (RMG). Since he took over from Moya Greene in September, he’s had to warn on the group’s profits and report half-year earnings more than 18% below consensus expectations. In the same time, the group’s share price has fallen 35%, forcing Royal Mail out of the FTSE 100.
But Mr Back has as much vested interest in the company’s (hopeful) recovery as any of its shareholders – in the last month, he’s spent just under £1m on shares. And he’s not the only…
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