Clarkson directors sell shares worth £3.6m
The lock-in period for the executives ended in February
AT SHIPPING services specialist Clarkson (CKN) executive director Peter Anker and non-executive director Birger Nergaard collectively sold £3.65m of shares in a single day.
Approximately 131,000 shares were sold on 23 August at £27.50. These deals could provide a potential insight into Clarkson’s prospects.
However, investors should also note the lock-in period for Nergaard and Anker, who used to work at Platou before it was acquired by Clarkson, ended in February. They may simply be taking advantage of the opportunity to crystalise some value in their stock.
In April, Clarkson revealed a shock profit warning, blaming a ‘challenging environment’ in shipping and offshore capital markets after several clients delayed signing new business deals.
Shares in Clarkson have bounced back 21% from one-year lows in June at £23 to £27.81 as investors look towards a return to profit growth in 2019. (LMJ)