IG Group CEO June Felix purchased another batch of shares in the trading giant this Monday.
According to regulatory filings on the London Stock Exchange, Felix bought 7,800 shares in IG last Thursday. At £6.255 ($7.78) a share, that means the broker CEO put just under £49,000 ($60,930) into the firm.
This is not the first time that Felix has bought IG shares since becoming CEO of the company in October last year.
Following her appointment, the American bought 17,000 shares in the group. She followed that up with the purchase of another 17,000 shares – worth just under £100,000 – in January of this year.
As with similar buy-back programs undertaken by other companies, Felix’s share purchases are likely aimed at restoring shareholder confidence in a rocky period for the retail trading industry.
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In its most recent annual report, IG reported a 16 percent drop in revenue – nearly all of it due to regulatory restrictions introduced by the European Securities and Markets Authority last year.
This wasn’t entirely unexpected, and Felix even claimed in the report that the broker is likely to recover in 2020, with clients putting down more money to meet margin requirements and the firm’s efforts at expansion bearing fruit.
Still, not everyone at IG is buying company shares – some directors at the firm are selling them.
On the same day that Felix bought her latest batch of equity in the group, Matthew Brief, IG’s chief product officer, and Joe McCaughran, the broker’s chief risk officer, both sold shares.
Brief, who has been at IG for almost two decades, sold 12,340 shares, valued at £77,964. McCaughran offloaded a much smaller amount, selling 891 shares for £5,631.