Auction Technology and Telecom Plus: Big director share deals this week

No one knows a company quite as well as its directors, which is why it is worth keeping an eye on their buying and selling of shares. 

We have combed through UK directors' deals and published the purchases and sales that caught our eye. Our table is compiled using company announcements and is not exhaustive.

Find out which company shares are being bought by their own directors this week and keep an eye on those which are being sold. 

Auction Technology Group finance chief offloads £1.2mn worth of shares

The chief financial officer of Auction Technology Group (ATG) has sold £1.2mn of stock, ahead of his departure early next year.

Tom Hargreaves disposed of 230,000 shares on 28 November at 510p each, reducing his stake in the FTSE 250 online platform by over a fifth. According to a company statement, the sale was for “personal financial purposes” and left Hargreaves in possession of 816,700 ordinary shares. This is not the first time he has made a hefty disposal. In May 2023, he sold £1.6mn of stock, again for personal financial purposes.

Hargeaves resigned as CFO in October after roughly eight years at the helm to take up a new position with a private equity-backed company in early 2025. A search for his replacement is now underway.

Auction Technology Group has had a relatively turbulent year, with the first half marred by a profit downgrade. Lower asset prices in the industrial & commercial division, a lower win rate and slow demand for arts and antiques all contributed to a weaker performance.

However, things improved in the second half, with the arts and antiques division fuelling organic revenue growth. Operating profit across the whole year jumped by 17 per cent to $32.4mn (£25.4mn) as operational leverage kicked in. Management is guiding for revenue growth of 4 to 6 per cent for financial year 2025, with adjusted EBITDA margins steady at 45-46 per cent.

However, end markets remain “uncertain” and analysts at Investec argue “a range of fears around cyclical trends, investment levels and the structural position of ATG in the industry” are depressing the company’s valuation. It currently trades on a forward price/earnings ratio of 17 times, half its five-year average.

The broker said the latest results provide “more clarity on the direction of travel on all these fronts”, however, ushering in the possibility of a re-rating. JS