Lord Peter Cruddas closes in on £5 million CMC Markets share purchase pledge
Well that didn’t take long.
After pledging to acquire £5 million (USD $6.6 million) worth of shares in his own company, CMC Markets (LON:CMCX), last Friday, CMC controlling shareholder and CEO Lord Peter Cruddas closed in on that goal, buying another £3.7 million worth of CMC stock in the open market on Monday.
New regulatory filings indicate that after initially buying £139,000 in stock early Friday and another £1.0 million later that day, Lord Cruddas purchased an additional £3.7 million of CMC shares on Monday (October 5), bringing the grand total so far to £4.85 million, just short of the £5 million goal.
Share purchases made by Lord Cruddas on Monday went as follows:
| Price (p) | Volume |
| 655.4 | 525,000 |
| 685.7 | 20,000 |
| 682.2 | 10,000 |
| 689.7 | 8,378 |
The share purchases seem to have had their desired effect. After CMC shares fell by more than 10% early Friday in the wake of rival IG Group’s disappointing Q3 Trading Update, dipping below 600p, they have recovered by about 16% to 694p, higher than they were at the time of IG’s update.
CMC Markets shares wild ride, past five days. Source: Google Finance.
