The American born June Felix has bought another 7,800 shares within the IG Group, the company she is CEO of. The grand tally of the shares amounts to little under £49,000 or $60,930.
June Felix has done this multiple times before, now tallying at a grand total 96 731 shares. She bought 17,000 shares shortly after she was appointed CEO of the trading giant, then doubled down on it with another 17,000 shares afterward.
This is somewhat likely to be an attempt to give more confidence to shareholders as the retail company suffers from unsteady footing after stating that they lost a whopping 16% in revenue thanks to new European regulations enacted by the European Securities and Markets Authority.
While not unexpected, it still did a number on the brokering company. Felix estimates that they will recover in 2020, however, as the firm is continually working trying to expand and have clients pay more to meet the margins.
Time will only tell if Felix can save her company with her strategies, time tested as they are. Something similar will doubtlessly happen again with another company.
In One Door, Out the Other
As Felix bought shares, two directors sold them. Mathew Brief and Joe McCaughern sold their respective shares on the day that Felix bought. Brief, an almost 20 year veteran at the company, dumped 12,340 shares (£77 964), while McCaughern let go of 891 (£5,631).
It seems not everyone has faith in the IG Group’s recovery.
About the IG Group
The IG Group is a trading company, established in 1974. It’s considered a leader in the trading industry and has its hands in stocks and Forex. They have branches in the UK, Australia, Germany, France, Ireland, Austria, and the Netherlands.