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TLDR: Ascential’s finance chief, Mandy Gradden, sold £2.4mn worth of shares in the company, despite stating she had faith in its long-term prospects.
The sale follows a sharp rise in Ascential’s share price and the company’s positive outlook for the rest of the year.
The sale may have been motivated by personal financial circumstances, and Ms. Gradden still holds a significant stake in the company.
Directors’ Deals: Ascential’s finance chief has sold £2.4mn worth of shares in the company, despite stating she has faith in the long-term prospects of the business. Mandy Gradden, who joined the company in 2018, sold 1mn shares on 14 September at 241.25p each. In July, Gradden revealed she had taken home £586,458 after the sale of £1mn shares. Gradden still holds a significant stake in the company.1
Shares in Ascential have seen a sharp rise in recent months due to improved company performance. The company’s revenue for H1 2024 was £408.6mn, up from £338.9mn the previous year, and its adjusted profit before tax rose to £76.2mn from £58.3mn. Ascential’s strong performance has prompted management to forecast full-year revenue and adjusted profit before tax above market expectations.1
While the sale may be seen as a negative signal by some investors, it is important to note that Gradden still holds a significant stake in the company. It is possible that the sale was motivated by personal financial circumstances. Gradden’s decision to sell the shares does not necessarily indicate a lack of confidence in the company’s future prospects.1
Ascential is a global business-to-business information company that provides actionable insights and data to professionals in various sectors, including fashion, retail, and media. The company operates several well-known brands, including Cannes Lions, Money20/20, and WGSN. Ascential was listed on the London Stock Exchange in 2016.1
1Directors’ Deals: Ascential’s finance chief ditches £2.4mn of shares, Morningstar, 16 September 2024
