Carol Kane ups her stake in Lad Bible Group after share fall
Boohoo co-founder Carol Kane has bought a £50k worth of shares in Lad Bible Group, where she is a non executive director.
Shares in the young adult digital content business unexpectedly dipped to 100p this week, but in a strong signal to the market Kane purchased 46,844 ordinary shares at a price of 106.5 pence per share.
Early trading this morning (14 February 2025) indicated the shares have picked up and were trading at 109p.
Shares in LBG surged last year from a low in April 2024 of 66p to reach 140p by October of that year.
Following this purchase, the company said Kane now holds 797,421 Shares, representing 0.4% of the company.
In January LBG told the markets it had enjoyed sales of £64.9m, compared with £67.5m for the 12 months to December 31, 2023 and that pre-tax profits for the nine month period were £12.1m, against £5.9m for the 12 month period.
In November 2024 analysts Shore Capital had issued a bullish BUY notice saying it anticipating 62% aggregate earnings-per-share growth over three years, driven by robust cash generation and organic growth opportunities, and highlighted LBG’s ambition to grow revenue to £200 million annually through a combination of organic growth and acquisitions.
Shore Cap gave the stock a buy rating with a 159p fair value estimate against the current price of 126.7p.
This week the business also announced it was looking for a new chief financial officer to replace Richard Jarvis who has left the business with immediate effect. Dave Wilson, executive chair, as of 22 January 2025 will have a particular focus on supporting the finance and legal teams.
