Ladbrokes owner Entain yesterday rejected a bid approach from MGM. The shares are now up 85% since we positively rated them on director buying on the 17th of August. This is what we said:
On August 14th, two directors plus the Chairman all purchased shares around £8 per share. Barry Gibson (Chairman, joined 2019) spent £150,000, Pierre Bouchut (Director since 2018) spent £92,000, and Jette Nygaard-Andersen (Director since 2019) spent £35,000. Shay Segev (CEO since July 2020, joined in 2016 as COO) exercised all of his outstanding options, 1.5 million in total with a strike price of £3.17, and held onto them. To help finance this large option exercise he took a drawdown on a £2 million loan, pledging his securities. We are ranking the stock +1
